Munich Personal RePEc Archive

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.


Download (345kB) | Preview


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).

MPRA is a RePEc service hosted by
the Munich University Library in Germany.