NTU-Bankruptcy Problems: Consistency and the Relative Adjustment Principle

Bas Dietzenbacher; Peter Borm; M.A. Estevez Fernandez

NTU-Bankruptcy Problems: Consistency and the Relative Adjustment Principle

Bas Dietzenbacher, Peter Borm, M.A. Estevez Fernandez

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Abstract

This paper axiomatically studies bankruptcy problems with nontransferable utility
by adequately generalizing and analyzing properties for bankruptcy rules. In particular, we discuss several consistency notions and introduce the class of parametric bankruptcy rules. Moreover, we introduce the class of adjusted bankruptcy rules and study the relative adjustment principle based on relative symmetry, truncation invariance, and minimal rights first.

Original language	English
Place of Publication	Tilburg
Publisher	CentER, Center for Economic Research
Number of pages	19
Volume	2017-044
Publication status	Published - 6 Nov 2017

Publication series

Name	CentER Discussion Paper
Volume	2017-044

Keywords

NTU-bankruptcy problem,
axiomatic analysis
consistency
parametric bankruptcy rules
adjusted bankruptcy rules
relatived adjustment principle

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2017-044Submitted manuscript, 429 KB

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KW - consistency

KW - parametric bankruptcy rules

KW - adjusted bankruptcy rules

KW - relatived adjustment principle

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NTU-Bankruptcy Problems: Consistency and the Relative Adjustment Principle

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