A Proportional Approach to Bankruptcy Problems with a guaranteed minimum

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RECERCAT Home > Universitat Rovira i Virgili > Departament d'Economia > Documents de treball del Departament d'Economia > View document

Use this identifier to quote or link this document: http://hdl.handle.net/2072/182645

dc.contributor	Universitat Rovira i Virgili. Departament d'Economia
dc.contributor	Universitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia Pública
dc.contributor.author	Giménez-Gómez, José Manuel
dc.contributor.author	Peris, Josep E.
dc.date.accessioned	2012-03-27T13:10:51Z
dc.date.available	2012-03-27T13:10:51Z
dc.date.created	2012-03-21
dc.date.issued	2012
dc.identifier.uri	http://hdl.handle.net/2072/182645
dc.format.extent	23 p.
dc.language.iso	eng
dc.publisher	Universitat Rovira i Virgili. Departament d'Economia
dc.relation.ispartofseries	Documents de treball del Departament d'Economia;2012-04
dc.rights	info:eu-repo/semantics/openAccess
dc.rights	L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons: http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.source	RECERCAT (Dipòsit de la Recerca de Catalunya)
dc.subject.other	Fallida
dc.subject.other	Jocs cooperatius
dc.subject.other	Economia del benestar
dc.subject.other	Elecció social
dc.title	A Proportional Approach to Bankruptcy Problems with a guaranteed minimum
dc.type	info:eu-repo/semantics/workingPaper
dc.subject.udc	33 - Economia
dc.embargo.terms	cap
dc.description.abstract	In a distribution problem, and specfii cally in bankruptcy issues, the Proportional (P) and the Egalitarian (EA) divisions are two of the most popular ways to resolve the conflict. The Constrained Equal Awards rule (CEA) is introduced in bankruptcy literature to ensure that no agent receives more than her claim, a problem that can arise when using the egalitarian division. We propose an alternative modi cation, by using a convex combination of P and EA. The recursive application of this new rule finishes at the CEA rule. Our solution concept ensures a minimum amount to each agent, and distributes the remaining estate in a proportional way. Keywords: Bankruptcy problems, Proportional rule, Equal Awards, Convex combination of rules, Lorenz dominance. JEL classi fication: C71, D63, D71.

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