New characterizations of old bankruptcy rules

Nir Dagan

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This paper presents axiomatic characterizations of two bankruptcy rules discussed in Jewish legal literature: the Constrained Equal Awards rule and the Contested Garment principle (the latter is defined only for two-creditor problems.) A major property in these characterizations is independence of irrelevant claims, which requires that if an individual claim exceeds the total to be allocated the excess claim should be considered irrelevant.

Social Choice and Welfare 13:51-59 (1996)

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Cited by

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  2. Youngsub Chun, Equivalence of axioms for bankruptcy problems, International Journal of Game Theory 28:511-520 (1999)
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  22. Simon Gächter and Arno Riedl, Dividing justly in bargaining problems with claims: normative judgments and actual negotiations, Social Choice and Welfare 27:571-594 (2006)
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  26. Juan D Moreno-Ternero, Proportionality and non-manipulability in bankruptcy problems, International Game Theory Review 8:127-139 (2006)
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