NTU-Bankruptcy Problems: Consistency and the Relative Adjustment Principle

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

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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 languageEnglish
Place of PublicationTilburg
PublisherCentER, Center for Economic Research
Number of pages19
Publication statusPublished - 6 Nov 2017

Publication series

NameCentER Discussion Paper


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


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