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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- Youngsub Chun & William Thomson, 2004.
"Convergence under Replication of Rules to Adjudicate Conflicting Claims,"
RCER Working Papers
512, University of Rochester - Center for Economic Research (RCER).
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- Thomson, William, 2003. "Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: a survey," Mathematical Social Sciences, Elsevier, vol. 45(3), pages 249-297, July.
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