The proportional rule for multi-issue bankruptcy problems

We investigate how to extend bankruptcy rules to the more general setting in which claims may refer to different issues. We consider two natural procedures and show that, among all bankruptcy rules, the proportional rule is the only one whose extensions according to the two procedures yield the same outcomes.

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Year of publication:	2009
Authors:	Moreno-Ternero, Juan D.
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 29.2009, 1, p. 474-481
Publisher:	AccessEcon
Subject:	Multi-issue bankruptcy problems \| proportional rule \| characterization result

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	D6 - Welfare Economics ; D7 - Analysis of Collective Decision-Making
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008563152