EconPapers    
Economics at your fingertips  
 

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) Downloads
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 ().

 
Page updated 2025-03-20
Handle: RePEc:spr:sochwe:v:43:y:2014:i:2:p:447-469