New characterizations of old bankruptcy rules

@inproceedings{Dagan1996NewCO,
  title={New characterizations of old bankruptcy rules},
  author={Nir Dagan},
  year={1996}
}
This paper presents axiomatic characterizations of two bankruptcy rules discussed in Jewish legal literature: the Constrained Equal Awards rule and the Contested Garment principle (the latter is defined only for two-creditor problems.) A major property in these characterizations is independence of irrelevant claims, which requires that if an individual claim exceeds the total to be allocated the excess claim should be considered irrelevant. 
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