Characterizing NTU-Bankruptcy Rules using Bargaining Axioms

Bas Dietzenbacher, Hans Peters

Research output: Working paperDiscussion paperOther research output

84 Downloads (Pure)

Abstract

This paper takes an axiomatic bargaining approach to bankruptcy problems with
nontransferable utility by characterizing bankruptcy rules in terms of properties from bargaining theory. In particular, we derive new axiomatic characterizations of the proportional rule, the truncated proportional rule, and the constrained relative equal awards rule using properties which concern changes in the estate or the claims.
Original languageEnglish
Place of PublicationTilburg
PublisherCentER, Center for Economic Research
Number of pages20
Volume2018-005
Publication statusPublished - 6 Feb 2018

Publication series

NameCentER Discussion Paper
Volume2018-005

    Fingerprint

Keywords

  • NTU-bankruptcy problem
  • axiomatic analysis
  • bargaining theory

Cite this

Dietzenbacher, B., & Peters, H. (2018). Characterizing NTU-Bankruptcy Rules using Bargaining Axioms. (CentER Discussion Paper; Vol. 2018-005). Tilburg: CentER, Center for Economic Research.