Equalizing solutions for bankruptcy problems revisited

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Title: Equalizing solutions for bankruptcy problems revisited
Authors: Alcalde, Jose | Peris, Josep E.
Research Group/s: Desarrollo, Métodos Cuantitativos y Teoría Económica (DMCTE)
Center, Department or Service: Universidad de Alicante. Departamento de Fundamentos del Análisis Económico
Keywords: Bankruptcy problem | Constrained Equal Awards | Constrained equal losses | Relative degree of conflict
Issue Date: 2-Sep-2022
Publisher: Springer Nature
Citation: Decisions in Economics and Finance. 2022, 45: 481-502. https://doi.org/10.1007/s10203-022-00373-y
Abstract: When solving bankruptcy problems through equalizing solutions, agents with small claims prefer to distribute the estate according to the Constrained Equal Awards solution, while the adoption of the Constrained Equal Losses solution is preferred by agents with high claims. Therefore, the determination of which is the central claimant, as a reference to distinguish the agents with a high claim from those with a low claim, is a relevant question when designing hybrid solutions, or new methods to distribute the available estate in a bankruptcy problem. We explore the relationship between the equal awards parameter λ and the equal losses parameter μ that characterize the two solutions. We show that the central claimant is fully determined by these parameters. In addition, we explore how to compute these parameters and present optimization problems that provide the Constrained Equal Awards and the Constrained Equal Losses solutions.
Sponsor: Open Access funding provided thanks to the CRUE-CSIC agreement with Springer Nature.
URI: http://hdl.handle.net/10045/126398
ISSN: 1593-8883 (Print) | 1129-6569 (Online)
DOI: 10.1007/s10203-022-00373-y
Language: eng
Type: info:eu-repo/semantics/article
Rights: © The Author(s) 2022. Open Access This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article’s Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article’s Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/.
Peer Review: si
Publisher version: https://doi.org/10.1007/s10203-022-00373-y
Appears in Collections:INV - DMCTE - Artículos de Revistas

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