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The Tal-Family Of Rules For Bankruptcy Problems

Author

Listed:
  • Antonio Villar Notario

    (Instituto Valenciano de Investigaciones Económicas)

  • Juan D. Moreno Ternero

    (Yale University)

Abstract

This paper analyzes a family of solutions to bankruptcy problems that generalizes the Talmud rule (T) and encompasses both the constrained equal-awards rule (A) and the constrained equal-losses rule (L). We study the structural properties of this family of rules and provide a characterization result. That allows us to identify the distinctive features of these three reference rules, T, A, L.

Suggested Citation

  • Antonio Villar Notario & Juan D. Moreno Ternero, 2001. "The Tal-Family Of Rules For Bankruptcy Problems," Working Papers. Serie AD 2001-33, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    • Handle: RePEc:ivi:wpasad:2001-33
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    References listed on IDEAS

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