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Bilateral Comparisons and Consistent Fair Division Rules in the Context of Bankruptcy Problems

Oscar Volij () and Nir Dagan ()

International Journal of Game Theory, 1997, vol. 26, issue 1, 11-25

Abstract: We analyze the problem of extending a given bilateral principle of justice to a consistent n-creditor bankruptcy rule. Based on the bilateral principle, we build a family of binary relations on the set of creditors in order to make bilateral comparisons between them. We find that the possibility of extending a specific bilateral principle of justice in a consistent way is closely related to the quasi-transitivity of the binary relations mentioned above.

Date: 1998-05-19
Note: Received March 1994 Revised version August 1994 Final version January 1995
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Working Paper: Bilateral Comparisons and Consistent Fair Division Rules in the Context of Bankruptcy Problems (1997)
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