The Minimal Overlap Rule: Restrictions on Mergers for Creditors' Consensus

Abstract

As it is known, there is no rule satisfying Additivity in the complete domain of bankruptcy problems. This paper proposes a notion of partial Additivity in this context, to be called µ-additivity. We find that µ-additivity, together with two quite compelling axioms, anonymity and continuity, identify the Minimal Overlap rule, introduced by Neill (1982).

Author Profiles

Janinne Silva
Universidade de Brasília
José Alcalde
Universidad de Alicante

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2012-01-21

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