A New Bankruptcy Procedure That Uses Multiple Auctions

John Moore, Oliver Hart, Rafael La Porta Drago, Florencio Lopez-de-Silanes

Research output: Contribution to journalArticlepeer-review

Abstract

We develop a new bankruptcy procedure that makes use of multiple auctions. The procedure" is designed to work even when capital markets do not function well (for example in developing" economies, or in economies in transition) -- although it can be used in all economies.
Original languageEnglish
Pages (from-to)461-473
Number of pages13
JournalEuropean Economic Review
Volume41
Issue number3-5
Publication statusPublished - Nov 1997

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