Advanced

Stochastic bankruptcy games

Habis, Helga LU and Herings, P.J.J. (2013) In International Journal of Game Theory 42(4). p.973-988
Abstract
We study bankruptcy problems where the estate and the claims have stochastic values and we allow these values to be correlated. We associate a transferable utility game with uncertainty to a stochastic bankruptcy problem and use the Weak Sequential Core as a solution concept for such games. We test the stability of a number of well known division rules in this stochastic setting and find that all of them are unstable, with the exception of the stochastic extension of the Constrained Equal Awards rule which leads to a Weak Sequential Core element.
Please use this url to cite or link to this publication:
author
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
Transferable utility games Uncertainty Weak Sequential Core Bankruptcy games
in
International Journal of Game Theory
volume
42
issue
4
pages
973 - 988
publisher
Springer
external identifiers
  • wos:000325429600011
  • scopus:84885932261
ISSN
1432-1270
DOI
10.1007/s00182-012-0350-x
language
English
LU publication?
yes
id
a32ec5de-f0b0-4a38-8666-019709492a09 (old id 3801750)
date added to LUP
2013-05-31 10:12:41
date last changed
2019-02-20 01:35:48
@article{a32ec5de-f0b0-4a38-8666-019709492a09,
  abstract     = {We study bankruptcy problems where the estate and the claims have stochastic values and we allow these values to be correlated. We associate a transferable utility game with uncertainty to a stochastic bankruptcy problem and use the Weak Sequential Core as a solution concept for such games. We test the stability of a number of well known division rules in this stochastic setting and find that all of them are unstable, with the exception of the stochastic extension of the Constrained Equal Awards rule which leads to a Weak Sequential Core element.},
  author       = {Habis, Helga and Herings, P.J.J.},
  issn         = {1432-1270},
  keyword      = {Transferable utility games Uncertainty Weak Sequential Core Bankruptcy games},
  language     = {eng},
  number       = {4},
  pages        = {973--988},
  publisher    = {Springer},
  series       = {International Journal of Game Theory},
  title        = {Stochastic bankruptcy games},
  url          = {http://dx.doi.org/10.1007/s00182-012-0350-x},
  volume       = {42},
  year         = {2013},
}