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distress under formal bankruptcy as a non-cooperative game between claimants under the supervision of the bankruptcy judge. The … bankruptcy design must trade-off the initial priority of claims with the viability of reorganized firms. …
Persistent link: https://www.econbiz.de/10009643550
Persistent link: https://www.econbiz.de/10011389216
In this article the killed Markov decision processes for countable models on finite time interval are considered. The existence of a uniform ε-optimal policy is proved. The correctness of the fundamental equation is shown. The optimal control problem is reduced to a similar problem for derived...
Persistent link: https://www.econbiz.de/10011008127
In this article the killed Markov decision processes for countable models on finite time interval are considered. The existence of a uniform ε-optimal policy is proved. The correctness of the fundamental equation is shown. The optimal control problem is reduced to a similar problem for...
Persistent link: https://www.econbiz.de/10010534133