Proportional Rule for Multi-Issue Bankruptcy Problems

Moreno Ternero, Juan D.

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Proportional Rule for Multi-Issue Bankruptcy Problems

Economics Bulletin, Vol. 29, No. 1, pp. 483-490, 2009

CORE Discussion Paper No. 2006/76

9 Pages Posted: 19 Nov 2006 Last revised: 23 Aug 2011

See all articles by Juan D. Moreno Ternero

Juan D. Moreno Ternero

Universidad Pablo de Olavide

Date Written: January 9, 2007

Abstract

We investigate how to extend bankruptcy rules to the general setting in which agents' claims may refer to different issues. We show that the proportional rule is the only one whose extensions according to two natural procedures yield the same outcomes.

Keywords: Multi-issue bankruptcy problems, proportional rule, characterization result.

JEL Classification: D63, D74

Suggested Citation: Suggested Citation

Moreno-Ternero, Juan D., Proportional Rule for Multi-Issue Bankruptcy Problems (January 9, 2007). Economics Bulletin, Vol. 29, No. 1, pp. 483-490, 2009, CORE Discussion Paper No. 2006/76, Available at SSRN: https://ssrn.com/abstract=945082