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A characterization of the random arrival rule for bankruptcy problems

Ilan Morgenstern and Diego Domínguez

Economics Letters, 2019, vol. 174, issue C, 214-217

Abstract: It is known that no additive division rules exist for bankruptcy problems. In this paper, we study a restricted additivity property which we call “feasible set additivity” (FSA). This property requires division rules to be additive when the set of feasible allocation vectors for a sum of problems does not include allocations that were unfeasible when considering each problem separately.

Keywords: Claims problems; Bankruptcy problems; Additivity; Random arrival rule (search for similar items in EconPapers)
JEL-codes: C79 D63 D74 (search for similar items in EconPapers)
Date: 2019
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Handle: RePEc:eee:ecolet:v:174:y:2019:i:c:p:214-217