List some factors you would consider in determining whether a procedure for dividing items is fair. Justify your choices (explain your reasoning).

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There are many situations, such as divorces and inheritances, that require goods to be divided equitably (not to mention kids who want a piece of pie). Maybe nobody wants grandma's china but everyone wants her china cabinet and a treasured picture of her and grandpa could start a serious argument when it comes to who will have it to hang on their wall. What do you do? There are a number of methods of division that are designed to provide all interested parties with a fair share. We use these methods for everything from sharing the last piece of pie to dividing assets in a divorce or the contents of an estate. Understanding the methods of division can help you to make sure that you get your fair share and that others do as well). 93 Divide and Choose (Lone Divider Method) Parents often use the Divide and Choose method when promoting sharing between two children. For example, there is one piece of cake left. One child will be tasked with cutting the piece of cake into two "fair" pieces. The other child will then get to choose first which piece of cake they want. This promotes fairness because the person cutting the cake wants to make sure that they get their fair share and so, theoretically, will do their best to divide the cake fairly. In theory, each party will be satisfied - the first because he did his best to cut the cake fairly and thus receives what he considers a fair share. The second because she gets first pick and thus chooses the piece she considers a fair share. When there are 3 people, this method is extended and called the Lone Divider method. Suppose that Larry, Moe, and Curly want to divide a round cake into 3 fair shares (an example of a continuous case). The cake pieces are labeled SI, S2, and S3. The choosers each bid on the pieces that they think are fair. Larry divides the cake as shown below. Moe thinks that only S3 is a fair share. Curly would be happy with SI or S3. . S2 S3