A characterization of the random arrival rule for bankruptcy problems
Ilan Morgenstern and
Economics Letters, 2019, vol. 174, issue C, 214-217
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)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:174:y:2019:i:c:p:214-217
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