Abstract
This article introduces and analyzes random conjugates of bankruptcy rules. A random conjugate is a rule which is derived from the definition of the underlying rule for two-claimant problems. For example, the random conjugate of the Aumann–Maschler rule yields an extension of concede-and-divide: the basic solution for bankruptcy problems with two claimants. Using the concept of random conjugates an alternative characterization of the proportional rule is provided. It turns out that the procedural definition of a random conjugate extends several of the properties of the underlying rule for two-claimant problems to the general domain of problems with an arbitrary number of claimants.
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Acknowledgements
The authors thank William Thomson for helpful comments.
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Open Access This is an open access article distributed under the terms of the Creative Commons Attribution Noncommercial License (https://creativecommons.org/licenses/by-nc/2.0), which permits any noncommercial use, distribution, and reproduction in any medium, provided the original author(s) and source are credited.
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Quant, M., Borm, P. Random conjugates of bankruptcy rules. Soc Choice Welf 36, 249–266 (2011). https://doi.org/10.1007/s00355-010-0474-5
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DOI: https://doi.org/10.1007/s00355-010-0474-5