Proportionality, Equality, and Duality in Bankruptcy Problems with Nontransferable Utility

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

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This paper analyzes bankruptcy problems with nontransferable utility as a generalization of bankruptcy problems with monetary estate and claims. Following the classical axiomatic theory of bankruptcy, we formulate some appropriate properties for NTU-bankruptcy rules and study their implications. We explore duality of bankruptcy rules and we derive several characterizations of the generalized proportional rule and the constrained relative equal awards rule.
Original languageEnglish
Place of PublicationTilburg
PublisherCentER, Center for Economic Research
Number of pages23
Publication statusPublished - 21 Jul 2016

Publication series

NameCentER Discussion Paper


  • NTU-bankruptcy problem
  • axiomatic analysis
  • duality
  • proportional rule
  • constrained relative equal awards rule


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