A New Bankruptcy Procedure that Uses Multiple Auctions - (Now published in European Economics Review, vol.41(3/5), 1997, pp.461-473.)

Oliver D. Hart, Rafael La Porta (), Florencio Lopez-de-Silanes () and John Moore

STICERD - Theoretical Economics Paper Series from Suntory and Toyota International Centres for Economics and Related Disciplines, LSE

Abstract: We propose a new bankruptcy procedure that makes use of multiple auctions. The procedure is designed to work even when capital markets do not function well (for example, in developing economies, or in economies in transition) - although it can be used in all economies.

Date: 1996-10

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Persistent link: http://EconPapers.repec.org/RePEc:cep:stitep:312

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