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

    5 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

    Fingerprint

    Bankruptcy
    Reverse
    Exemption
    Exclusion
    Constrained equal awards rule

    Keywords

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

    ASJC Scopus subject areas

    • Management Science and Operations Research
    • Modelling and Simulation
    • Information Systems and Management

    Cite this

    Characterization of the Reverse Talmud bankruptcy rule by Exemption and Exclusion properties. / Van Den Brink, René; Funaki, Yukihiko; Van Der Laan, Gerard.

    In: European Journal of Operational Research, Vol. 228, No. 2, 16.07.2013, p. 413-417.

    Research output: Contribution to journalArticle

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