Download This PaperMerging and Going Bankrupt: A Neutral Solution
21 Pages Posted: 23 Jan 2011
Date Written: 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).
Keywords: Bankruptcy Problems, Additivity, Minimal Overlap Rule
JEL Classification: C71, D63, D71
Suggested Citation: Suggested Citation
Alcalde, José and Marco-Gil, Maria del Carmen and Silva Reus, José Angel, Merging and Going Bankrupt: A Neutral Solution (January 22, 2011). Available at SSRN: https://ssrn.com/abstract=1745528 or http://dx.doi.org/10.2139/ssrn.1745528
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