NTU-Bankruptcy Problems: Consistency and the Relative Adjustment Principle

B. Dietzenbacher, Peter Borm, M.A. Estevez Fernandez

Research output: Working paperAcademic

Abstract

This paper axiomatically studies bankruptcy problems with nontransferable utility by adequately generalizing and analyzing properties for bankruptcy rules. In particular, we discuss several consistency notions and introduce the class of parametric bankruptcy rules. Moreover, we introduce the class of adjusted bankruptcy rules and study the relative adjustment principle based on relative symmetry, truncation invariance, and minimal rights first.
Original languageEnglish
Place of PublicationTilburg
PublisherCentER, Center for Economic Research
Number of pages9
Volume2017-044
ISBN (Electronic)2213-9532
ISBN (Print)0924-7815
Publication statusPublished - 6 Nov 2017

Keywords

  • NTU-bankruptcy problem
  • axiomatic analysis
  • consistency
  • parametric bankruptcy rules
  • adjusted bankruptcy rules
  • relatived adjustment principle

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  • Cite this

    Dietzenbacher, B., Borm, P., & Estevez Fernandez, M. A. (2017). NTU-Bankruptcy Problems: Consistency and the Relative Adjustment Principle. Tilburg: CentER, Center for Economic Research.