A new prospect of additivity in bankruptcy problems

Jose Alcalde, Jose Silva and María del Carmen Marco Gil
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María del Carmen Marco Gil: Universidad Politécnica de Cartagena

Working Papers. Serie AD from Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie)

Abstract: As it is known, there is no rule satisfying Additivity on the complete domain of bankruptcy problems. This paper proposes a notion of partial Additivity in this context, to be called µ-Additivity. We find that µ-Additivity, together with two quite compelling axioms, Anonymity and Continuity, identify the Minimal Overlap rule, introduced by O'Neill (1982).

Keywords: bankruptcy problems; additivity; minimal overlap rule. (search for similar items in EconPapers)
JEL-codes: C71 D63 D71 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2010-07
New Economics Papers: this item is included in nep-gth
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http://www.ivie.es/downloads/docs/wpasad/wpasad-2010-27.pdf Fisrt version / Primera version, 2010 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:ivi:wpasad:2010-27

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