This paper introduces liability problems, as a generalization of bankruptcy problems, where every agent not only owns a … want to cash their claims, we will analyze liability rules which prescribe how the total available amount of cash should be … schemes is established and it is seen that within the class of hierarchical liability problems, such a transfer scheme is …

This chapter reviews the theory of the voluntary public and private redistribution of wealth elaborated by economic … analysis in the last forty years or so. The central object of the theory is altruistic gift-giving, construed as benevolent … voluntary redistribution of income or wealth. The theory concentrates on lump-sum voluntary transfers, individual or collective …

The paper explores the Nash’ equilibrium point and the “Non Cooperative Games Theory” for extension of bargaining …