Bankruptcy and the Per Capita Nucleolus

S. Huijink, P.E.M. Borm, J.H. Reijnierse, J. Kleppe

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Abstract

Abstract: This article characterizes the per capita nucleolus for bankruptcy games as a bankruptcy rule. This rule, called the cligths rule, is based on the wellknown constrained equal awards principle. The essential feature of the rule however is that, for each bankruptcy problem, it takes into account a vector of clights. These clights only depend on the vector of claims while the height of the estate determines whether the clights should be interpreted as modified claims or as rights. Finally, it is seen that both the clights rule and the Aumann-Maschler rule can be captured within the family of so-called claim and right rules.
Original languageEnglish
Place of PublicationTilburg
PublisherEconometrics
Number of pages35
Volume2013-059
Publication statusPublished - 2013

Publication series

NameCentER Discussion Paper
Volume2013-059

Keywords

  • Bankruptcy
  • (per capita) nucleolus

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  • Cite this

    Huijink, S., Borm, P. E. M., Reijnierse, J. H., & Kleppe, J. (2013). Bankruptcy and the Per Capita Nucleolus. (CentER Discussion Paper; Vol. 2013-059). Econometrics.