| Article ID: | iaor19962121 |
| Country: | United States |
| Volume: | 1 |
| Issue: | 3 |
| Start Page Number: | 183 |
| End Page Number: | 195 |
| Publication Date: | Dec 1995 |
| Journal: | International Journal of Operations and Quantitative Management |
| Authors: | Burnovski Moshe Bar Niv, Lipovetsky Stan |
| Keywords: | markov processes, risk, financial |
The distribution of debtors assets during insolvency is regulated according to legal priority rules. Unfortunately, priorities are sometimes contradictory and consequently result in a circular priority problem. There is no generally acceptable solution to the problem. The purpose of this paper is to develop a method that may be generally applicable to conflicting priority situations.