Scandinavian Working Papers in Economics

Discussion Papers on Economics,
University of Southern Denmark, Department of Economics

No 1/2023: A note on solidarity in bankruptcy problems when agents merge or split

Peter Sudhölter (), Pedro Calleja () and Francesc Llerena ()
Additional contact information
Peter Sudhölter: Department of Economics, Postal: Department of Economics, University of Southern Denmark, Campusvej 55, DK-5230 Odense M, Denmark
Pedro Calleja: Department of Economics, Postal: Departament de Matem`atica Econ`omica , Financera i Actuarial , Universitat de Barcelona-BEAT,, Av. Diagonal, 690, 08034 Barcelona , Spain
Francesc Llerena: Department of Economics, Postal: Departament de Gesti´o d’Empreses , Universitat Rovira i Virgili-ECO-SOS , Av. de la Universitat, 1, 43204 Reus , Spain

Abstract: We explore the relationship between non-manipulability via merging (splitting) and strong non-manipulability via merging (splitting). We show that although, in general, these non-manipulability properties are not equivalent, under the principle of solidarity, fulfilled by a wide range of bankruptcy rules including parametric rules, they coincide.

Keywords: non-manipulability via merging or splitting; solidarity; bankruptcy rule

JEL-codes: C71

Language: English

11 pages, March 7, 2023

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