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The Nucleolus Of The Bankruptcy Problem By Hydraulic Rationing

Author

Listed:
  • TAMÁS FLEINER

    (Budapest University of Technology and Economics, Department of Computer Science and Information Theory, H-1117 Budapest, Magyar tudósok körútja 2, Hungary)

  • BALÁZS SZIKLAI

    (Institute of Economics, Research Center for Economic and Regional Studies, Hungarian Academy of Sciences, H-1112, Budapest, Budaörsi út 45, Hungary)

Abstract

In this note, we give a straightforward and elementary proof of a theorem by Aumann and Maschler stating that in the well-known bankruptcy problem, the so-called CG-consistent solution described by the Talmud represents the nucleolus of the corresponding coalitional game. The proof nicely fits into the hydraulic rationing framework proposed by Kaminski. We point out further interesting properties in connection with this framework.

Suggested Citation

  • Tamás Fleiner & Balázs Sziklai, 2012. "The Nucleolus Of The Bankruptcy Problem By Hydraulic Rationing," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 14(01), pages 1-11.
    • Handle: RePEc:wsi:igtrxx:v:14:y:2012:i:01:n:s0219198912500077
    DOI: 10.1142/S0219198912500077
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    Cited by:

    1. Csóka, Péter, 2018. "Az adósságelengedés modellezése kooperatív játékelmélettel [Modelling debt relief using cooperative game theory]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 768-779.
    2. Tamas Solymosi & Balazs Sziklai, 2015. "Universal Characterization Sets for the Nucleolus in Balanced Games," CERS-IE WORKING PAPERS 1512, Institute of Economics, Centre for Economic and Regional Studies.
    3. Thomson, William, 2015. "Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: An update," Mathematical Social Sciences, Elsevier, vol. 74(C), pages 41-59.

    More about this item

    Keywords

    Bankruptcy problem; Talmud rule; nucleolus; hydraulic rationing;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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