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Duality in land rental problems

Alfredo Valencia-Toledo and Juan Vidal-Puga

MPRA Paper from University Library of Munich, Germany

Abstract: A single tenant demands a particular amount of land from several lessors. The way lessors rent their land can be seen as equivalent to a bankruptcy problem. We extend self-duality in bankruptcy problems to these land rental situations. We provide a complete characterization of the family of rules that satisfy self-duality. Moreover, self-duality is enough to assure that the amount of land is proportionally shared among the lessors. Adding other reasonable properties, we pick up a single rule.

Keywords: Self-duality; land rental problems; bankruptcy problems; proportional rule (search for similar items in EconPapers)
JEL-codes: C7 C71 (search for similar items in EconPapers)
Date: 2017-07-28
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