Characterizing NTU-bankruptcy rules using bargaining axioms

Bas Dietzenbacher*, Hans Peters

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-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 languageEnglish
Number of pages18
JournalAnnals of Operations Research
DOIs
Publication statusE-pub ahead of print - 18 Oct 2020

JEL classifications

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

Keywords

  • NTU-bankruptcy problem
  • axiomatic analysis
  • bargaining theory
  • Axiomatic analysis
  • Bargaining theory

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