A New Approach for Bounding Awards in Bankruptcy Problems
Knowledge Area
Fundamentos del Análisis EconómicoPublication date
2008-09Publisher
Asociación Española de Profesores Universitarios de Matematicas aplicadas a la Economia y la Empresa (ASEPUMA)Bibliographic Citation
JIMÉNEZ GÓMEZ, José María, MARCO GIL, María del Carmen. A New Approach for Bounding Awards in Bankruptcy Problems. Rect@, Actas 16 (1). Septiembre 2008. ISSN 1575605XKeywords
Problemas BankruptcyReglas Bankruptcy
Límite inferior
Ptroceso recursivo
Abstract
The solution for the Contested Garment Problem proposed in the Babylonic Talmud,
one of the most important sources of inspiration for solving situations where demand
overcomes supply of some resources, suggests that each agent should receive at least some
part of the available amount when facing these situations. This idea has underlied the
theoretical analysis of bankruptcy problems from its beginning (O Neill, 1982) to present
day (Dominguez and Thomson, 2006). In this context, starting from the fact that a society
establishes its own set of Commonly Accepted Equity Principles , we propose a new lower
bound on awards de ned, for each agent, as the minimum amount she gets according to
all the admissible rules for such a society. Moreover, we analyze the recursive application
of this new bound, since it will not exhaust the resources, in general.
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