Exam 13: Fair Division

Suppose Tony and Jess want to take turns, using the bottom-up strategy, to allocate several items. If Tony and Jess have the same last choice on their preference lists, who gets this item?

David and Max purchased raffle tickets together and, to their surprise, won three prizes. Now they must make a fair division of their winnings. Using the adjusted winner procedure, what does David end up with? Object David's points Max's points Fly rod 50 45 Fly-fishing lessons 10 35 100 hand-tied flies 40 20

Use the following information to answer the Questions: Suppose Jack and Joe want to take turns, using the bottom-up strategy, to allocate a selection of cookies. Their ranked preferences are listed below: 1st 2nd 3 rd 4th 5 th 6 th Jack chocolate peanut butter macadamia macaroon sugar oatmea Joe peanut butter oatmeal macaroon macadamia chocolate sugar -If Jack chooses first, what is his first choice?

Use the following information to answer the Questions: Suppose that there are five potential kidney recipients with the following characteristics: Potential Recipient Months Waiting Antigens Matched Percent Sensitized A 5 2 10 B 4 3 30 C 3.5 1 20 D 3 3 70 E 2 4 80 -What are the total points awarded to the potential recipient A?

Henry and Lisa inherit a house. If their monetary bids on the house are $135,000 and $114,000, respectively, what is the fair division arrived at by the Knaster inheritance procedure?

What does Ashley have at the end of the process?

Use the following information to answer Questions Ashley, Brook, Chris, and Dana must make a fair division of the estate of their grandfather Wilbur. The estate consists of an old coin and a suit. Using the Knaster inheritance procedure, the value each person places on each item is shown below. Item Ashley Brook Chris Dana Coin \ 4 \ 6 \ 4 \ 4 Suit \ 4 \ 4 \ 7 \ 4 -Who gets the suit?

A parent leaves a house, a farm, and a piece of property to be divided equally among four children who submit dollar bids on these objects as follows: House 120,000 125,000 100,000 90,000 Farm 80,000 60,000 70,000 75,000 Property 40,000 30,000 25,000 45,000 What is the fair division arrived at by the Knaster inheritance procedure?

Assume that Bob, Carol, Ted, and Alice view a cake as shown below: Notice that each player views the cake as having 16 units of value. Assume that the four players use the last-diminisher method to divide the cake among themselves. Give a step-by-step description of the cuts made and the pieces with which each player exits assuming that the order in which they proceed is Alice, then Ted, then Carol, and then Bob.

Suppose that Bob and Carol view a cake as shown below: Assume that Bob and Carol know how each other values the cake (and that neither is spiteful). Suppose they are to divide the cake using the rules of divide-and-choose but not necessarily the strategies. If Bob is the divider, where will he cut the cake and how many units of value will Bob and Carol think he or she is receiving?

What does Ashley think the inheritance is worth?

Peyton Young's synopsis of the fair division procedure for kidney allocation adopted by OPTN has several main criteria to arrive at a final ranking of those needing a kidney. Which criterium deals with the percent sensitized?

Use the following information to answer the Questions Albert, Bella, Cosmo, and Dante inherit their grandmother's estate, which consists of a rare first- edition novel and a piano. The dollar values that each heir places on the items are as follows: Novel 10,000 6,000 Piano 2,000 5,000 500 100 4,000 100 Use the Knaster inheritance procedure to divide the property. -Who gets the piano?

John, Ken, and Linda inherit a painting. If their monetary bids on the painting are $25,200, $21,600, and $18,000, respectively, what is the fair distribution arrived at by the Knaster inheritance procedure?

Use the following information to answer the Questions: In a Vickrey auction, the three highest bids (by bidders A, B, and C) are $100, $101, and $500. -What does the winner pay?

Use the following information to answer the Questions Tom and Sandy must make a fair division of three objects left by their great-aunt Sally. They have assigned points to the objects as shown below. Object Tom's points Sandy's points Painting 40 30 Jewelry 10 50 Car 50 20 -Using the adjusted winner procedure, who gets the car?

Use the following information to answer Questions Suppose Chris and Toni each view a cake as shown below. They agree to use the divide-and-choose procedure. -If Chris divides, where will the cut be made?

Use the following information to answer the Questions: Suppose Kim and Chris want to take turns, using the bottom-up strategy, to allocate several textbooks currently held jointly. Their ranked preferences are listed below: Chris botany sociology physiology biology ecology chemistry Kim biology chemistry botany sociology ecology physiology -If Chris chooses first, what is Chris's first choice?

Charles and Monte must make a fair division of a cabin. They use the Knaster inheritance procedure. Charles bids $65,000 for the value of the cabin and Monte bids $57,000. What is the outcome of the fair division?

Suppose Tony and Jess want to take turns, using the bottom-up strategy, to allocate several items. If Tony and Jess rank the same item as first on their preference lists, who gets this item?