Equal Awards versus Equal Losses in Bankruptcy Problems
Jose Alcalde () and
Josep E. Peris ()
No 17-2, QM&ET Working Papers from University of Alicante, D. Quantitative Methods and Economic Theory
The Constrained Equal Awards and Equal Losses rules are traditional ways to solve bankruptcy problems. These rules are characterized by two parameters α and β that represent, respectively, the maximum amount a claimant receives, or the maximum amount a claimant loses. Moreover, these rules define a partition in the set of agents: those who are equally rationed, and those sustaining a lower rationing (because their maximal award and maximal loss cannot exceed their claim). We investigate the relationship between α and β, and the corresponding partitions they originate in the set of agents, by using a characteristic τ measuring the relative degree of conflict.
Keywords: Bankruptcy Problem; Relative Degree of Conflict (search for similar items in EconPapers)
JEL-codes: C71 D63 D71 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ris:qmetal:2017_002
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