Stochastic bankruptcy games

Habis, Helga and Herings, Jean-Jacques P. (2012) Stochastic bankruptcy games. Working Paper. Institute of Economics, Research Centre for Economic and Regional Studies, Hungarian Academy of Sciences, Budapest.

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We study bankruptcy games where the estate and the claims have stochastic values. We use the Weak Sequential Core as the solution concept for such games. We test the stability of a number of well known division rules in this stochastic setting and find that most of them are unstable, except for the Constrained Equal Awards rule, which is the only one belonging to the Weak Sequential Core.

Item Type:Monograph (Working Paper)
Series Name:MTA KRTK Műhelytanulmányok / Discussion papers
Uncontrolled Keywords:transferable utility games, uncertainty, weak sequential core, bankruptcy games, JEL codes: C71, C73
Subjects:Mathematics, Econometrics
ID Code:633
Deposited By: Ádám Hoffmann
Deposited On:18 May 2012 10:06
Last Modified:18 Oct 2021 08:03

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