Merging and Going Bankrupt: A Neutral Solution
As it is known, there is no rule satisfying Additivity in the complete domain of bankruptcy problems. This paper proposes a notion of partial Additivity in this context, to be called m-additivity. We find that m-additivity, together with two quite compelling axioms, anonymity and continuity, identify the Minimal Overlap rule, introduced by Neill (1982).
|Date of creation:||20 Oct 2010|
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- Gustavo Bergantiños & Luciano Méndez-Naya, 2001. "Additivity in bankruptcy problems and in allocation problems," Spanish Economic Review, Springer, vol. 3(3), pages 223-229.
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