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The minimal overlap rule: restrictions on mergers for creditors’ consensus

2012; Springer Science+Business Media; Volume: 22; Issue: 1 Linguagem: Inglês

10.1007/s11750-012-0262-8

1863-8279

José Alcalde, María del Carmen Marco-Gil, José A. Silva-Reus,

Economic theories and models

As it is known, there is no rule satisfying additivity in the complete domain of bankruptcy problems. This paper proposes a notion of partial additivity in this context, to be called μ-additivity. We find out that this property, together with two quite compelling axioms, equal treatment of equals and continuity, identify the minimal overlap rule, introduced by O'Neill (Math. Soc. Sci. 2:345–371, 1982).