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Compromise solutions for bankruptcy situations with references

Author

Listed:
  • M. Pulido
  • P. Borm
  • R. Hendrickx
  • N. Llorca
  • J. Sánchez-Soriano

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 τ value of two corresponding TU games. We apply our solutions to a real-life case of allocating university money to degree courses. Copyright Springer Science+Business Media, LLC 2008

Suggested Citation

  • M. Pulido & P. Borm & R. Hendrickx & N. Llorca & J. Sánchez-Soriano, 2008. "Compromise solutions for bankruptcy situations with references," Annals of Operations Research, Springer, vol. 158(1), pages 133-141, February.
    • Handle: RePEc:spr:annopr:v:158:y:2008:i:1:p:133-141:10.1007/s10479-007-0241-x
    DOI: 10.1007/s10479-007-0241-x
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    1. Driessen, T.S.H. & Tijs, S.H., 1985. "The t-value, the core and semiconvex games," Other publications TiSEM 016b6b5d-a476-44ca-bd05-7, Tilburg University, School of Economics and Management.
    2. Manuel Pulido & Joaquín Sánchez-Soriano & Natividad Llorca, 2002. "Game Theory Techniques for University Management: An Extended Bankruptcy Model," Annals of Operations Research, Springer, vol. 109(1), pages 129-142, January.
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    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games

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