We introduce a new solution for bankruptcy problems that satisfies weaker versions of the Exemption en Exclusion … properties from the literature. Although the principles of Exclusion and Exemption are appealing, the specific conditions under … Exclusion property such that there is a unique bankruptcy rule that satisfies these two properties together with Consistency and …

discrimination, but prevents foreclosure in the intermediary market. Indeed, if both cost and optional price are rather low, non …-discriminatory input prices below cost may arise. Optional input prices are socially more desirable than a flat ban on price discrimination …

access price. It turns out that this form of regulation may prevent foreclosure even though allowing for price discrimination … prices above marginal cost. Interestingly, even though one expects discrimination against the first mover, non … access price. Non-discrimination rules will either not become effective or result in less optimal price levels. …

discrimination, but prevents foreclosure in the intermediary market. Indeed, if both cost and optional price are rather low, non …-discriminatory input prices below cost may arise. Optional input prices are socially more desirable than a flat ban on price discrimination …