Characterizing NTU-Bankruptcy Rules using Bargaining Axioms

Bas Dietzenbacher, Hans Peters

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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
Publication statusPublished - 6 Feb 2018

Publication series

NameCentER Discussion Paper


  • NTU-bankruptcy problem
  • axiomatic analysis
  • bargaining theory


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