Characterizing NTU-bankruptcy rules using bargaining axioms

Bas Dietzenbacher, Hans Peters

Research output: Working paper / PreprintWorking paper

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Abstract

This paper takes an axiomatic bargaining approach to bankruptcy problems with
nontransferable utility by characterizing bankruptcy rules in terms of properties from bargaining theory. In particular, we derive new axiomatic characterizations of the proportional rule, the truncated proportional rule, and the constrained relative equal awards rule using properties which concern changes in the estate or the claims.
Original languageEnglish
PublisherMaastricht University, Graduate School of Business and Economics
Number of pages20
DOIs
Publication statusPublished - 8 Feb 2018

Publication series

SeriesGSBE Research Memoranda
Number006

JEL classifications

  • c78 - "Bargaining Theory; Matching Theory"
  • d74 - "Conflict; Conflict Resolution; Alliances"

Keywords

  • NTU-bankruptcy problem
  • axiomatic analysis
  • bargaining theory

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