Nontransferable Utility Bankruptcy Games

Autor:	Arantza Estévez-Fernández, Borm, P., Fiestras-Janeiro, M. G.
Přispěvatelé:	Econometrics and Operations Research, Research Group: Economics
Předmět:	C71 Core cover NTU bankruptcy problem NTU-bankruptcy problem Coalitional merge convexity Ordinal convexity Compromise stability ddc:330 NTU bankruptcy games NTU-bankruptcy game Adjusted proportional rule
Zdroj:	Tilburg University-PURE Vrije Universiteit Amsterdam Estevez Fernandez, M A, Borm, P & Fiestras-Janeiro, M G 2014 ' Nontransferable Utility Bankruptcy Games ' TI Discussion Paper, no. 14-030/II, Tinbergen Institute, Amsterdam . < http://papers.tinbergen.nl/14030.pdf >
Popis:	In this paper, we analyze bankruptcy problems with nontransferable utility (NTU) from a game theoretical perspective by redefining corresponding NTU-bankruptcy games in a tailor-made way. It is shown that NTU-bankruptcy games are both coalitional merge convex and ordinal convex. Generalizing the notions of core cover and compromise stability for transferable utility (TU) games to NTU-games, we also show that each NTU-bankruptcy game is compromise stable. Thus, NTU-bankruptcy games are shown to retain the two characterizing properties of TU-bankruptcy games: convexity and compromise stability. As a first example of a game theoretical NTU-bankruptcy rule, we analyze the NTU-adjusted proportional rule and show that this rule corresponds to the compromise value of NTU-bankruptcy games.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=dedup_wf_001::4bcaba13e4addca15c356e32dfb3f1ea https://research.tilburguniversity.edu/en/publications/1fdbd930-b661-4f87-b289-51d50ad9a560 Zobrazit plný text záznamu