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Article

Proportionality, equality, and duality in bankruptcy problems with nontransferable utility

Dietzenbacher B., Estévez-Fernández A., Borm P., Hendrickx R.

This paper studies bankruptcy problems with nontransferable utility as a generalization of bankruptcy problems with monetary estate and claims. Following the theory on TU-bankruptcy, we introduce a duality notion for NTU-bankruptcy rules and derive several axiomatic characterizations of the proportional rule and the constrained relative equal awards rule.