Arzu Kibris

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Axiomatic analysis of bankruptcy problems reveals three major principles: (i) proportionality (PRO), (ii) equal awards (EA), and (iii) equal losses (EL). However, most real life bankruptcy procedures implement only the proportionality principle. We construct a noncooperative investment game to explore whether the explanation lies in the alternative(More)
For investment or professional service partnerships (in general, for partnerships where measures of the partners’ contributions are available), we consider a family of partnership agreements commonly used in real life. They allocate a fixed fraction of the surplus equally and the remains, proportional to contributions; and they allow this fraction to depend(More)
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