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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
Many distributional conflicts are characterized by the presence of acquired rights. The basic structure of these conflicts is that of the so-called claims problem, in which an amount of money has to be divided among individuals with differing claims and the total amount available falls short of...
Persistent link: https://www.econbiz.de/10005065370