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Contributions to Game Theory and Management, 2010 Volume 3, Pages 8–21 (Mi cgtm71)

A New Prospect of Additivity in Bankruptcy Problems

José Alcaldea, María del Carmen Marco-Gilb, José A. Silvaa

a IUDESP and Dep. Fonaments de l’Anàlisi Econòmica, University of Alicante, 03071, Alicante, Spain
b Dep. de Economía, Polytechnic University of Cartagena Paseo Alfonso XIII, 50, 30203 Cartagena, Murcia, Spain

Abstract: As is known, there is no rule satisfying Adittivity on the complete domain of bankruptcy problems. This paper explores some Partial-Adittivity properties in this context. We determine that Adittivity restricted to bankruptcy problems which in some way keep the conflictivity of the creditors' claims fixed is compatible with certain bankruptcy rules. Our main result is that the proposed Adittivity property, together with two quite compelling axioms, Anonymity and Continuity, identify the Minimal Overlap rule, introduced by O'Neill (1982).

Keywords: Bankruptcy problems; Additivity; Minimal Overlap rule.

Language: English



© Steklov Math. Inst. of RAS, 2024