Abstract
AbstractWe consider the estate division or bankruptcy problem and assume that players sequentially put claims on the estate. Each part of the estate is then divided proportionally with respect to the number of claims on it. We focus on myopic play: players first claim the hitherto least claimed parts, and on subgame perfect equilibria. Our main result is that myopic strategies constitute a subgame perfect equilibrium if punishments for deviators are included.
Funder
Natural Science Foundation of Jiangsu Province
Publisher
Springer Science and Business Media LLC
Subject
Management Science and Operations Research,Business, Management and Accounting (miscellaneous)