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Applications of game theory in bankruptcy game

Haidzir, Hanisah-2013-01-01-Universiti Sains Malaysia Institutional Repository (Universiti Sains Malaysia)
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TL;DRAbstract

Bankruptcy is a problem that can happen to anybody. It occurs when the total amount of debt to be paid is larger than the total amount of asset. The question is how to divide the asset to different creditors fairly. The main objective of this thesis was to solve the remaining asset division for a company that went bankrupt. There were three methods being used to solve the division of the asset and the methods were Talmud division, Shapley value and the Nucleolus. By using 3-agents and 4-agents cooperative games, we compared all three methods to determine which methods are favourable to the creditors.

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Bankruptcy is a problem that can happen to anybody. It occurs when the total amount of debt to be paid is larger than the total amount of asset. The question is how to divide the asset to different creditors fairly. The main objective of this thesis was to solve the remaining asset division for a company that went bankrupt. There were three methods being used to solve the division of the asset and the methods were Talmud division, Shapley value and the Nucleolus. By using 3-agents and 4-agents cooperative games, we compared all three methods to determine which methods are favourable to the creditors.

Keywords

BankruptcyCreditorTalmudDivision (mathematics)Asset (computer security)Shapley valueGame theoryCooperative game theory

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