Characterization of the Reverse Talmud bankruptcy rule by Exemption and Exclusion properties

René Van Den Brink, Yukihiko Funaki, Gerard Van Der Laan

Research output: Contribution to journalArticle

6 Citations (Scopus)

Abstract

The Reverse Talmud rule for bankruptcy problems applies the Constrained Equal Awards rule (CEA rule) for 'large' amounts of the estate, while it applies the Constrained Equal Losses rule (CEL rule) for 'small' amounts of the estate. The CEA rule, respectively CEL rule, can be axiomatized using the Exemption and Exclusion properties respectively. There is no rule that satisfies both these two properties. In this paper we axiomatize the Reverse Talmud rule by using compatible weaker versions of the Exemption and Exclusion properties.

Original languageEnglish
Pages (from-to)413-417
Number of pages5
JournalEuropean Journal of Operational Research
Volume228
Issue number2
DOIs
Publication statusPublished - 2013 Jul 16

Keywords

  • Bankruptcy rules
  • Decision support systems
  • Economics
  • Exclusion
  • Exemption
  • Game theory

ASJC Scopus subject areas

  • Computer Science(all)
  • Modelling and Simulation
  • Management Science and Operations Research
  • Information Systems and Management

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