Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: An update

• Paper surveys work on the adjudication of conflicting claims since Thomson (2003).
• The bulk of the survey is on the axiomatic approach, as most of the recent work has been along axiomatic lines.
• It discusses extensions of the base model and applications.
• It outlines directions for further research.

A group of agents have claims on a resource but there is not enough of it to honor all of the claims. How should it be divided? A group of agents decide to undertake a public project that they can jointly afford. How much should each of them contribute? This essay is an update of Thomson (2003), a survey of the literature devoted to the study of such problems.