A new approach for bounding awards in bankruptcy problems
José-Manuel Giménez-Gómez () and
M. Marco-Gil ()
Social Choice and Welfare, 2014, vol. 43, issue 2, 447-469
Abstract:
The solution for the contested garment problem, proposed in the Babylonic Talmud, suggests that each agent should receive at least some part of the resources whenever the claim exceeds the available amount. In this context, we propose a new method to define lower bounds on awards, an idea that has underlied the theoretical analysis of bankruptcy problems from its beginning (O’Neill, Math Soc Sci 2:345–371, 1982 ) to present day (Dominguez and Thomson, Econ Theory 28:283–307, 2006 ). Specifically, starting from the fact that a society establishes its own set of commonly accepted equity principles, our proposal ensures to each agent the smallest amount she gets according to all the admissible rules. We analyze its recursive application for different sets of equity principles. Copyright Springer-Verlag Berlin Heidelberg 2014
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)
Downloads: (external link)
http://hdl.handle.net/10.1007/s00355-013-0789-0 (text/html)
Access to full text is restricted to subscribers.
Related works:
Working Paper: A New Approach for Bounding Awards in Bankruptcy Problems (2008) 
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:spr:sochwe:v:43:y:2014:i:2:p:447-469
Ordering information: This journal article can be ordered from
http://www.springer. ... c+theory/journal/355
DOI: 10.1007/s00355-013-0789-0
Access Statistics for this article
Social Choice and Welfare is currently edited by Bhaskar Dutta, Marc Fleurbaey, Elizabeth Maggie Penn and Clemens Puppe
More articles in Social Choice and Welfare from Springer, The Society for Social Choice and Welfare Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().