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NTU-bankruptcy problems: consistency and the relative adjustment principle

Dietzenbacher,Bas
; 
Borm,Peter
; 
Estevez,Arantza
Abstract
This paper axiomatically studies bankruptcy problems with nontransferable utility by focusing on generalizations of consistency and the contested garment principle. On the one hand, we discuss several consistency notions and introduce the class of parametric bankruptcy rules which contains the proportional rule, the constrained relative equal awards rule, and the constrained relative equal losses rule. On the other hand, we introduce the class of adjusted bankruptcy rules and characterize the relative adjustment principle by truncation invariance, minimal rights first, and a weak form of relative symmetry.
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Publisher Copyright: © 2019, Springer-Verlag GmbH Germany, part of Springer Nature.
Date
2020-06
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Tilburg University Research Output Collection
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Keywords
NTU-bankruptcy problems, consistency, relative adjustment principle, parametric bankruptcy rules, adjusted bankruptcy rules, C79 - Other, D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement, D74 - Conflict; Conflict Resolution; Alliance; Revolutions
Citation
Dietzenbacher, B, Borm, P & Estevez, A 2020, 'NTU-bankruptcy problems: consistency and the relative adjustment principle', Review of Economic Design, vol. 24, no. 1-2, pp. 101-122. https://doi.org/10.1007/s10058-019-00227-x
URI
https://hdl.handle.net/20.500.14602/73279
License
info:eu-repo/semantics/closedAccess
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