Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1 2.A Fair Division (LD) HW 2-1 HW 2-1. Four partners (Benjamin, Evan, Lee, and Miles) are dividing a piece of land among themselves

Question 1

  1. 2.A Fair Division (LD) HW 2-1
  2. HW 2-1. Four partners (Benjamin, Evan, Lee, and Miles) are dividing a piece of land among themselves using the lone-divider method. A divider is selected at random, and divides the land into four shares. The following table gives the value (in $1000's) of the shares in the eyes of each partner.
  3. S2
  4. S3
  5. S4
  6. Total
  7. MFS
  8. Bid list
  9. Ben
  10. $300
  11. $150
  12. $150
  13. $100
  14. $
  15. $
  16. Evan
  17. $500
  18. $200
  19. $400
  20. $300
  21. $
  22. $
  23. Lee
  24. $1,000
  25. $1,000
  26. $1,000
  27. $1,000
  28. $
  29. $
  30. Miles
  31. $425
  32. $75
  33. $325
  34. $375
  35. $
  36. $
  37. When answering Questions 1-4, provide only a numerical value. Your answer should be in terms of $1000s, the same as the table. For example, if Person A has a minimum fair share of $250,000, your input would be "250".
  38. 1. What is Ben's minimum fair share? $

  1. 2. What is Evan's minimum fair share?$

  1. 3. What is Lee's minimum fair share?$

  1. 4. What is Miles' minimum fair share?$

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Mathematics questions

Question

2. What would you say the goal of the Japanese team was?

Answered: 1 week ago