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Merging and Going Bankrupt: A Neutral Solution

Alcalde, Jose and Marco-Gil, María del Carmen and Silva, José A. (2010): Merging and Going Bankrupt: A Neutral Solution.

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Abstract

As it is known, there is no rule satisfying Additivity in the complete domain of bankruptcy problems. This paper proposes a notion of partial Additivity in this context, to be called m-additivity. We find that m-additivity, together with two quite compelling axioms, anonymity and continuity, identify the Minimal Overlap rule, introduced by Neill (1982).

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