Annabi, Amira; Breton, Michèle; François, Pascal - In: European Journal of Operational Research 221 (2012) 3, pp. 603-613
We extend the contingent claims framework for the levered firm in explicitly modelling the resolution of financial distress under formal bankruptcy as a non-cooperative game between claimants under the supervision of the bankruptcy judge. The identity of the class of claimants proposing the...