Stovall, John E. (2012) Asymmetric parametric division rules. Working Paper. Coventry: University of Warwick, Department of Economics. Warwick economics research papers series (TWERPS), Volume 2013 (Number 1012).

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Abstract

We describe and characterize the family of asymmetric parametric division rules for the adjudication of conflicting claims. We use two approaches to characterize this family. The first approach follows the existing literature in
defining a claims problem. As part of the characterization in this setting, we present two novel axioms which restrict how a division rule indirectly allocates between different versions of the same claimant. The second approach departs from the existing literature by expanding the definition of a claims problem to allow claimants to have multiple claims. The characterization in this setting uses the same set of axioms, though modified for this expanded domain, used by Young (1987) to characterize the family of symmetric parametric division rules. We show that these two approaches are essentially equivalent.

Item Type:	Working or Discussion Paper (Working Paper)
Subjects:	H Social Sciences > HB Economic Theory
Divisions:	Faculty of Social Sciences > Economics
Library of Congress Subject Headings (LCSH):	Priorities of claims and liens -- Econometric models
Series Name:	Warwick economics research papers series (TWERPS)
Publisher:	University of Warwick, Department of Economics
Place of Publication:	Coventry
Official Date:	23 March 2012
Dates:	Date Event 23 March 2012 Published
Volume:	Volume 2013
Number:	Number 1012
Number of Pages:	37
Institution:	University of Warwick
Status:	Not Peer Reviewed
Related URLs:	Related item in WRAP

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