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Merging and Going Bankrupt: A Neutral SolutionJosé AlcaldeDepartment of Quantitative Methods and Economic Theory; University of Alicante - IUDESP Maria Del Carmen Marco-GilTechnical University of Cartagena (UPCT) José Silva ReusUniversidad de Alicante - Department of Economic Analysis January 22, 2011 Abstract: As it is known, there is no rule satisfying Additivity in the complete domain of bankruptcy problems. This paper proposes a notion of partial Additivity in this context, to be called m-additivity. We find that m-additivity, together with two quite compelling axioms, anonymity and continuity, identify the Minimal Overlap rule, introduced by Neill (1982).
Number of Pages in PDF File: 21 Keywords: Bankruptcy Problems, Additivity, Minimal Overlap Rule JEL Classification: C71, D63, D71 working papers seriesDate posted: January 23, 2011Suggested CitationContact Information
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