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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

Juan D. Moreno Ternero

Universidad Pablo de Olavide; Catholic University of Louvain (UCL) - Center for Operations Research and Econometrics (CORE)

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

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

Juan D. Moreno-Ternero (Contact Author)

Universidad Pablo de Olavide ( email )

Ctra. Utrera, Km.1
Sevilla, Seville 41010
Spain

HOME PAGE: http://https://sites.google.com/site/jmorenoternero/

Catholic University of Louvain (UCL) - Center for Operations Research and Econometrics (CORE) ( email )

34 Voie du Roman Pays
B-1348 Louvain-la-Neuve, b-1348
Belgium

HOME PAGE: http://www.core.ucl.ac.be/~moreno/

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