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A new prospect of additivity in bankruptcy problems

Author

Listed:
  • José Alcalde Pérez

    (Universidad de Alicante)

  • José Angel Silva Reus

    (Universidad de Alicante)

  • María del Carmen Marco Gil

    (Universidad Politécnica de Cartagena)

Abstract

As it is known, there is no rule satisfying Additivity on the complete domain of bankruptcy problems. This paper proposes a notion of partial Additivity in this context, to be called µ-Additivity. We find that µ-Additivity, together with two quite compelling axioms, Anonymity and Continuity, identify the Minimal Overlap rule, introduced by O'Neill (1982).

Suggested Citation

  • José Alcalde Pérez & José Angel Silva Reus & María del Carmen Marco Gil, 2010. "A new prospect of additivity in bankruptcy problems," Working Papers. Serie AD 2010-27, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    • Handle: RePEc:ivi:wpasad:2010-27
    as

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    File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-2010-27.pdf
    File Function: Fisrt version / Primera version, 2010
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    bankruptcy problems; additivity; minimal overlap rule.;
    All these keywords.

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations

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