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This paper reports an experimental study on three well-known solutions for problems of adjudicating con icting claims: the constrained equal-awards, the proportional, and the constrained equal-losses rules. We first let subjects play three games designed such that the unique equilibrium...
Persistent link: https://www.econbiz.de/10005042979
We investigate how to extend bankruptcy rules to the general setting in which agents'claims may refer to different issues. We show that the proportional rule is the only one whose extensions according to two natural procedures yield the same outcomes.
Persistent link: https://www.econbiz.de/10005008297