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Default Penalty as a Selection Mechanism Among Multiple Equilibria
Huber, Juergen - 2012
equilibrium. The theory and evidence together reinforce the idea that accounting, bankruptcy and possibly other aspects of social …
Persistent link: https://www.econbiz.de/10013115182
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Bankruptcy Boundary Games
Skeel, David A. - 2010
For the past several decades, Congress has steadily expanded the exclusion of securities market operations from core bankruptcy protections. This Article focuses on three of the most important of these issues: the exclusion of brokerage firms from Chapter 11; the protection of settlement payments...
Persistent link: https://www.econbiz.de/10013151622
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Default Penalty As a Selection Mechanism Among Multiple Equilibria
Huber, Juergen - 2017
near the chosen equilibrium. The theory and evidence together reinforce the idea that accounting, bankruptcy and possibly …
Persistent link: https://www.econbiz.de/10012955114
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Game Theoretic Analysis of Negotiations under Bankruptcy
Annabi, Amira - 2019
We extend the contingent claims framework for the levered firm in explicitly modeling the resolution of financial distress under formal bankruptcy as a non-cooperative game between claimants under the supervision of the bankruptcy judge. The identity of the class of claimants proposing the first...
Persistent link: https://www.econbiz.de/10012905894
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Default Penalty as a Selection Mechanism Among Multiple Equilibria
Sunder, Shyam - 2017
near the chosen equilibrium. The theory and evidence together reinforce the idea that accounting, bankruptcy and possibly …
Persistent link: https://www.econbiz.de/10012969249
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Strategic default in financial networks
Allouch, Nizar; Jalloul, Maya; Duncan, Alfred - 2021
This paper investigates a model of default in financial networks where the decision by one agent on whether or not to default impacts the incentives of other agents to escape default. Agents' payoffs are determined by the clearing mechanism introduced in the seminal contribution of Eisenberg and...
Persistent link: https://www.econbiz.de/10012655559
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Default Penalty as a Selection Mechanism Among Multiple Equilibria
Huber, Juergen - 2015
equilibrium. The theory and evidence together reinforce the idea that accounting, bankruptcy and possibly other aspects of social …
Persistent link: https://www.econbiz.de/10013036170
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Voluntary bankruptcy as preemptive persuasion
Dinev, Nikolay - 2017
This paper examines the phenomenon of management-initiated, court-supervised reorganization of companies in U.S. bankruptcy court. The proposed in-court persuasion mechanism reconciles excessive reorganizations of non-viable companies (and subsequent repeat failures) with management-initiated...
Persistent link: https://www.econbiz.de/10011779720
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The Bankruptcy Auction as a Game - Designing an Optimal Auction in Bankruptcy
Rotem, Yaad; Dekel, Omer - 2013
contributes to this scarce literature by shedding light on the possible interaction of bankruptcy auctions with Auction Theory. To … demonstrate its potential contribution, we employ Auction Theory to analyze current auction practices, including the question of …). The application of Auction Theory to the bankruptcy context educes three important contributions. First, we suggest a …
Persistent link: https://www.econbiz.de/10014157553
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Bilateral Comparisons and Consistent Fair Division Rules in the Context of Bankruptcy Problems
Volij, Oscar - 1997
We analyze the problem of extending a given bilateral principle of justice to a consistent n-creditor bankruptcy rule. Based on the bilateral principle, we build a family of binary relations on the set of creditors in order to make bilateral comparisons between them. We find that the possibility...
Persistent link: https://www.econbiz.de/10014060804