Purpose:The purpose of this assignment is to (1) improve my understanding of fair division through applications, (2) demonstrate your ability to follow the Method of Sealed Bids, and (3) creatively work through a problem that you have created. This assignment will help me prepare for fair division problems using the Method of Sealed Bids for your Fair Division Exam. Also, this activity will help me communicate where I am understanding and misunderstanding of Sealed Bids are. This assignment prepares me to effectively write-up a Method of Sealed Bids problem thoroughly which will be required on the Fair Division Exam. Finally, this assignment will allow me to explore estate mediation and the value systems different people put on different items.

Assignment:I will be a mediator of an estate between four (4) chosen people and five (5) discrete items. Answer Page:

1. Describe the scenario listing the items and players.

	Items	Person 1	Person 2	Person 3	Person 4
B.	Item 1
	Item 2
	Item 3
	Item 4
	Item 5
C.	Total Bids
	Fair Share
	Value of Items Awarded
D.	Pay to or Receive
	Amount
E.	Surplus (Kitty)
	Share of Surplus
F.	Final Share

G. Describe the reactions of each player

Work Page:

Follow the steps below

1. Complete the top of the chart with the items, names and bids. For each item, indicate the winner (highlight, circle, etc.)
2. For each person, calculate the Fair Share and state the total value of items won.
3. Indicate if each person will be paying to the estate or receiving from the estate based on the difference between the fair share and total value of items won.
4. Calculate the surplus for the estate and determine each player's share of the surplus.
5. State the final settlement for each player, specially indicating items won, and money to be received or paid.