Characterizing NTU-Bankruptcy Rules using Bargaining Axioms

Bas Dietzenbacher; Hans Peters

Characterizing NTU-Bankruptcy Rules using Bargaining Axioms

Bas Dietzenbacher
, Hans Peters

Research output: Working paper › Discussion paper › Other research output

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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 language	English
Place of Publication	Tilburg
Publisher	CentER, Center for Economic Research
Number of pages	20
Volume	2018-005
Publication status	Published - 6 Feb 2018

Publication series

Name	CentER Discussion Paper
Volume	2018-005

Keywords

NTU-bankruptcy problem
axiomatic analysis
bargaining theory

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2018-005Submitted manuscript, 463 KB

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KW - NTU-bankruptcy problem

KW - axiomatic analysis

KW - bargaining theory

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Characterizing NTU-Bankruptcy Rules using Bargaining Axioms

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