Compromise Solutions for Bankruptcy Situations with References

M. Pulido, P.E.M. Borm, R.L.P. Hendrickx, N. Llorca, J. Sánchez-Soriano

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Abstract

This paper deals with bankruptcy situations in which in addition to the claims, an exogenously given reference point for the allocation of the estate is present.We introduce and analyse two types of compromise solutions and show that they coincide with the T value of two corresponding TU games.We apply our solutions to a real-life case of allocating university money to degree courses.
Original languageEnglish
Place of PublicationTilburg
PublisherMicroeconomics
Number of pages14
Volume2003-36
Publication statusPublished - 2003

Publication series

NameCentER Discussion Paper
Volume2003-36

Keywords

  • bankruptcy
  • allocation
  • t-value
  • games

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