Should Derivatives be Privileged in Bankruptcy?

Patrick Bolton, Martin Oehmke

NBER Working Paper No. 17599
Issued in November 2011

---- Acknowledgements -----

For helpful comments, we thank Ulf Axelson, Ken Ayotte, Mike Burkart, Douglas Diamond, Oliver Hart, Gustavo Manso, Vikrant Vig, Jeff Zwiebel, and seminar participants at Columbia University, the UBC Winter Finance Conference, Temple University, Rochester, the Moody's/LBS Credit Risk Conference, LSE, LBS, Stockholm School of Economics, Mannheim, HEC, INSEAD, CEU, the 2011 ALEA meetings, the 4th annual Paul Woolley Conference, the NBER Summer Institute, ESSFM Gerzensee, the 2011 SITE Conference, ESMT Berlin, Harvard Law School, and Harvard Business School. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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