Characterizing NTU-bankruptcy rules using bargaining axioms

Bas Dietzenbacher; Hans Peters

doi:10.1007/s10479-020-03828-w

Characterizing NTU-bankruptcy rules using bargaining axioms

Bas Dietzenbacher^*, Hans Peters

^*Corresponding author for this work

Research output: Contribution to journal › Article › Academic › peer-review

Abstract

This paper takes an axiomatic bargaining approach to bankruptcy problems with nontransferable utility, by using properties from bargaining theory in order to characterize bankruptcy rules. 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 in the claims.

Original language	English
Pages (from-to)	871-888
Number of pages	18
Journal	Annals of Operations Research
Volume	318
Issue number	2
DOIs	https://doi.org/10.1007/s10479-020-03828-w
Publication status	Published - Nov 2022

JEL classifications

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

Keywords

NTU-bankruptcy problem
axiomatic analysis
bargaining theory

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10.1007/s10479-020-03828-wLicence: CC BY

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abstract = "This paper takes an axiomatic bargaining approach to bankruptcy problems with nontransferable utility, by using properties from bargaining theory in order to characterize bankruptcy rules. 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 in the claims.",

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AB - This paper takes an axiomatic bargaining approach to bankruptcy problems with nontransferable utility, by using properties from bargaining theory in order to characterize bankruptcy rules. 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 in the claims.

KW - NTU-bankruptcy problem

KW - axiomatic analysis

KW - bargaining theory

U2 - 10.1007/s10479-020-03828-w

DO - 10.1007/s10479-020-03828-w

M3 - Article

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JO - Annals of Operations Research

JF - Annals of Operations Research

IS - 2

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Characterizing NTU-bankruptcy rules using bargaining axioms

Abstract

JEL classifications

Keywords

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