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Chances are, you're ready to get out of town with friends or family. No doubt, you're beyond excited for a long-overdue trip, but vacationing with those outside your household requires a lot of...
Chances are, you didn't travel last summer, so now that the pandemic is easing up, you're ready to get out of town with friends or family. No doubt, you're beyond excited for a long-overdue trip ...
Divide and choose (also Cut and choose or I cut, you choose) is a procedure for fair division of a continuous resource, such as a cake, between two parties. It involves a heterogeneous good or resource ("the cake") and two partners who have different preferences over parts of the cake (both want as much of it as possible).
Fair division is the problem in game theory of dividing a set of resources among several people who have an entitlement to them so that each person receives their due share. . That problem arises in various real-world settings such as division of inheritance, partnership dissolutions, divorce settlements, electronic frequency allocation, airport traffic management, and exploitation of Earth ...
This would have two subgame perfect equilibria: (Proposer: S=0, Accepter: Accept), which is a weak equilibrium because the acceptor would be indifferent between their two possible strategies; and the strong (Proposer: S=1, Accepter: Accept if S>=1 and Reject if S=0). [3] The ultimatum game is also often modelled using a continuous strategy set.
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For n people with additive valuations, a proportional division always exists. The most common protocols are: Last diminisher, a protocol that can guarantee that the n pieces are connected (i.e. no person gets a set of two or more disconnected pieces). In particular, if the cake is a 1-dimensional interval then each person receives an interval.