Non-cooperative solutions for estate division problems

Murat Atlamaz, Caroline Berden, Hans Peters and Dries Vermeulen

Games and Economic Behavior, 2011, vol. 73, issue 1, 39-51

Abstract: In an estate division problem an estate has to be divided among several players whose total entitlement to the estate exceeds its size. This paper extends the non-cooperative approach through a claim game, as initiated by O'Neill (1982), by allowing players to put multiple claims on the same part of the estate, and by considering the case where individual entitlements may exceed the estate. A full characterization of the set of Nash equilibria of the claim game is obtained both for restricted estate division problems, where individual entitlements do not exceed the estate, and for the general case. Variations on the claim game are considered, which result in proportional division in equilibrium.

Keywords: Bankruptcy; problem; Estate; division; problem; Non-cooperative; claim; game (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0899825611000030
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:73:y:2011:i:1:p:39-51

Access Statistics for this article

Games and Economic Behavior is currently edited by E. Kalai

More articles in Games and Economic Behavior from Elsevier
Bibliographic data for series maintained by Catherine Liu ().