Bilateral Comparisons and Consistent Fair Division Rules in the Context of Bankruptcy Problems
Ben-Gurion University of the Negev - Department of Economics
INTERNATIONAL JOURNAL OF GAME THEORY, Vol 26 No 1, 1997
We analyze the problem of extending a given bilateral principle of justice to a consistent n-creditor bankruptcy rule. Based on the bilateral principle, we build a family of binary relations on the set of creditors in order to make bilateral comparisons between them. We find that the possibility of extending a specific bilateral principle of justice in a consistent way is closely related to the quasi- transitivity of the binary relations mentioned above.
JEL Classification: D74, D63, G33Accepted Paper Series
Date posted: July 2, 1997
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