Merging and Going Bankrupt: A Neutral Solution

Jose Alcalde, María del Carmen Marco-Gil and Jose Silva

MPRA Paper from University Library of Munich, Germany

Abstract: As it is known, there is no rule satisfying Additivity in the complete domain of bankruptcy problems. This paper proposes a notion of partial Additivity in this context, to be called m-additivity. We find that m-additivity, together with two quite compelling axioms, anonymity and continuity, identify the Minimal Overlap rule, introduced by 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)
Date: 2010-10-20
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