Priority and proportionality in bankruptcy
Impacte
Scholar |
Altres documents de l'autoria: Szwagrzak, Karol; García-Segarra, Jaume; Ginés-Vilar, Miguel
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Mostra el registre complet de l'elementcomunitat-uji-handle:10234/9
comunitat-uji-handle2:10234/8643
comunitat-uji-handle3:10234/8644
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INVESTIGACIONAquest recurs és restringit
https://doi.org/10.1007/s00355-019-01219-0 |
Metadades
Títol
Priority and proportionality in bankruptcyData de publicació
2019Editor
Springer VerlagISSN
0176-1714; 1432-217XCita bibliogràfica
FLORES-SZWAGRZAK, Karol; GARCÍA-SEGARRA, Jaume; GINÉS-VILAR, Miguel. Priority and proportionality in bankruptcy. Social Choice and Welfare, 2019, p. 1-21Tipus de document
info:eu-repo/semantics/articleVersió de l'editorial
https://link.springer.com/article/10.1007/s00355-019-01219-0Versió
info:eu-repo/semantics/publishedVersionResum
We study the problem of distributing the liquidation value of a bankrupt firm among its creditors (O’Neill, Math Soc Sci 2(4):345–371, 1982; Aumann and Maschler, J Econ Theory 36(2):195–213, 1985). Real-life distribution ... [+]
We study the problem of distributing the liquidation value of a bankrupt firm among its creditors (O’Neill, Math Soc Sci 2(4):345–371, 1982; Aumann and Maschler, J Econ Theory 36(2):195–213, 1985). Real-life distribution rules prioritize predetermined creditor groups, dividing the amount assigned to each group proportionally to claims. We provide the first axiomatic characterization of such rules. In addition to the classical consistency and continuity axioms, these rules are characterized by the following properties: (1) bankruptcy problems with the same claims and where each claimant’s award is positive in each problem can be solved either jointly or separately without altering the recommended awards, (2) a dual property specifying that bankruptcy problems with the same claims and where each claimant’s loss is positive can be solved either jointly or separately without altering the recommended awards. [-]
Publicat a
Social Choice and Welfare, 2019, p. 1-21Proyecto de investigación
Karol Flores-Szwagrzak gratefully acknowledges financial support from the Independent Research Fund Denmark (Grant ID: DFF-6109-00132). Miguel Ginés-Vilar gratefully acknowledges financial support from the Spanish Ministry of Science, Innovation, and University (RTI2018-096927-B-100) and Generalitat Valenciana (AICO/2018/036)Drets d'accés
© Springer-Verlag GmbH Germany, part of Springer Nature 2019
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