Multi-issue bankruptcy problems with crossed claims

In this paper, we introduce a novel model of multi-issue bankruptcy problem inspired from a real problem of abatement of emissions of different pollutants in which pollutants can have more than one effect on atmosphere. In our model, therefore, several perfectly divisible goods (estates) have to be allocated among certain set of agents (claimants) that have exactly one claim which is used in all estates simultaneously. In other words, unlike of the multi-issue bankruptcy problems already existent in the literature, this model study situations with multi-dimensional states, one for each issue and where each agent claims the same to the different issues in which participates. In this context, we present an allocation rule that generalizes the well-known constrained equal awards rule from a procedure derived from analyzing this rule for classical bankruptcy problems as the solution to a sucession of linear programming problems. Next, we carry out an study of its main properties, and we characterize it using the well-known property of consistency.

The Bankruptcy Problem of Tourist Enterprises in Russia and Abroad

The article considers the issue of bankruptcy of tourism enterprises in the world tourism centers and Russia. The topic of the article in modern conditions is relevant. It is important for the development of the tourism product and choosing tour operators on the market. It is particularly relevant in connection with the fact that, with a certain regularity, tour operators are shutting down. The authors see the purpose of the study in the formation of proposals to minimize negative consequences. They analyzed the theoretical foundations of bankruptcy and the existing bankruptcy process in Russia. The experience of Great Britain, USA, France, Germany and other countries was analyzed and, special emphasis is placed on solving this problem in Russia. The analysis, devoted to the study of the theoretical foundations of the tourism enterprises bankruptcy, allowed us to conclude that this is an economically justified phenomenon, the onset of which will happen sooner or later. The formulated conclusions will allow a new look at the bankruptcy problem of tour operators.

PREDIKSI KEBANGKRUTAN MODEL SPRINGATE PADA INDUSTRI TELEKOMUNIKASI

<p>This study purposes to analyze of corporate bankruptcy prediction of telecommunication industry in Indonesia with Springate model. The data used in the form of financial statements published by the telecommunications industry at Indonesia Stock Exchange for 2009-2013<br />period. The sampling technique of this study was determined by purposive sampling method for six samples from Indonesia Stock Exchange (IDX). The results using Springate model shows that two companies, PT Bakrie Telecom, Tbk and PT Smartfren, Tbk could potentially<br />bankrupt in the future and three companies For PT Indosat, Tbk, PT XL Axiata, Tbk and PT Inovisi Infracom, Tbk are classified have financial distress problem. The company that very good results is PT Telekom Indonesia, Tbk and categorized has no bankruptcy problem. In<br />general analysis telecommunication caompany have no good financial condition because business risk and financial risk are higher relatively than other industry.</p>

From Jungle to Civilized Economy: The Power Foundation of Exchange Economy Equilibrium

This article explores the evolution of a civilized exchange economy from an anarchistic environment. I analyze a model of stochastic jungle bargaining mechanism and show that it implements the Talmud Rule allocation (Aumann, R. J., and M. Maschler. 1985. “Game Theoretic Analysis of a Bankruptcy Problem from the Talmud.” Journal of Economic Theory 36 (2): 195–213.) in subgame perfect equilibrium. This Pareto-inefficient allocation constitutes the initial endowment of a stable exchange economy and supports stable Walrasian equilibria, implying that civilized economies could evolve from a Hobbesian state of nature without social contract or regulator. The moral implications of these results are also briefly discussed.