dc.contributor
Universitat Rovira i Virgili. Departament d'Economia
dc.contributor.author
Calleja, Pedro
dc.contributor.author
Llerena, Francesc
dc.contributor.author
Sudhölter, Peter
dc.date.accessioned
2023-06-02T15:47:09Z
dc.date.accessioned
2024-12-10T13:35:57Z
dc.date.available
2023-06-02T15:47:09Z
dc.date.available
2024-12-10T13:35:57Z
dc.date.created
2021-11-08
dc.identifier.uri
http://hdl.handle.net/2072/534916
dc.description.abstract
We investigate manipulability in the setting of financial systems by considering two weak forms of immunity: non-manipulability via merging and non-
manipulability via splitting. Not surprinsingly, non-manipulability via splitting
is incompatible with some basic axioms: claim boundedness, limited liability, and
absolute priority. Outstandingly, we introduce a large class of financial rules that
are immune to manipulations via merging. This class includes the proportional
financial rule but also financial rules in accordance with parametric bankruptcy
rules fulfilling non-manipulability via merging.
Keywords: financial systems, manipulability via merging, manipulability via
splitting, parametric bankruptcy rules
JEL: C71
eng
dc.format.extent
38 p.
cat
dc.publisher
ECO-SOS, Centre de Recerca en Economia i Sostenibilitat
cat
dc.relation.ispartofseries
Documents de treball del Departament d'Economia;2021-09
dc.rights
L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons:http://creativecommons.org/licenses/by-nc-nd/4.0/
dc.source
RECERCAT (Dipòsit de la Recerca de Catalunya)
dc.subject.other
Entitats financeres
cat
dc.title
On manipulability in financial systems
cat
dc.type
info:eu-repo/semantics/workingPaper
cat
dc.rights.accessLevel
info:eu-repo/semantics/openAccess
