New Characterizations of Old Bankruptcy Rules
This paper presents axiomatic characterizations of two bankruptcy rules disscused in Jewish legal literature: the Constrained Equal Awards rule and the Contested Garment principle (the latter is defined only for two-creditor problems.) A major property in these characterizations is independence of irrelevant claims, which requires that if an individual claim exceeds the total to be allocated the excess claim should be considered irrelevant.
|Date of creation:||1996|
|Date of revision:|
|Publication status:||Published in Social Choice and Welfare 13:51-59 (1996)|
|Contact details of provider:|| Postal: Nir Dagan, Dept. of Economics and Management, Tel-Hai Academic College, Upper Galilee, Israel.|
Web page: http://www.nirdagan.com/research/
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Aumann, Robert J. & Maschler, Michael, 1985. "Game theoretic analysis of a bankruptcy problem from the Talmud," Journal of Economic Theory, Elsevier, vol. 36(2), pages 195-213, August.
- Dagan, Nir & Volij, Oscar, 1993.
"The bankruptcy problem: a cooperative bargaining approach,"
Mathematical Social Sciences,
Elsevier, vol. 26(3), pages 287-297, November.
- Volij, Oscar & Dagan, Nir, 1993. "The Bankruptcy Problem: A Cooperative Bargaining Approach," Staff General Research Papers 10571, Iowa State University, Department of Economics.
- Nir Dagan & Oscar Volij, 1993. "The Bankruptcy Problem: a Cooperative Bargaining Approach," Economic theory and game theory 001, Nir Dagan.
When requesting a correction, please mention this item's handle: RePEc:nid:ndagan:002. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Nir Dagan)
If references are entirely missing, you can add them using this form.