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We consider a situation in which agents have mutual claims on each other, summarized in a liability matrix. Agents … prevailing bankruptcy rules that satisfies limited liability and priority of creditors. Since clearing payment matrices and the …
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Sharing a damage that has been caused by several individuals is a difficult problem that courts often face. Even if there exist basic principles and rules to apportion damages among them (like for instance in the third Restatement of Torts promulgated in May 1999), legal scholars are still...
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Distributing liability according to injurers' relative fault produces incentives for rent-seeking (excessive care) or …
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literature, we introduce the firm as an explicit player and define a new class of transferable utility games called liability … games. Liability games are superadditive, constant sum, partially convex, and partially concave. The core of a liability …
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We consider a class of social cost problems where one polluter interacts with an arbitrary number of potential victims. Agents are supposed to cooperate and negotiate an optimal pollution level together with monetary transfers. We examine multi-choice cooperative games associated with a social...
Persistent link: https://www.econbiz.de/10012823157
literature, we introduce the firm as an explicit player and define a new class of transferable utility games called liability … games. Liability games are superadditive, constant sum, partially convex, and partially concave. The core of a liability …
Persistent link: https://www.econbiz.de/10012940904