In problems of fair division, the adjusted winner procedure is used to partition a bundle of goods between two players in such a way as to minimize envy and maximize efficiency and equitability. The procedure is used in divorce settlements and illustrates the concept of Nash equilibria.
The method is also interesting from an ethical perspective as it appears to encourage honesty.
Read more about Adjusted Winner Procedure: Method, Software Patent
Famous quotes containing the words adjusted and/or winner:
“The lover of nature is he whose inward and outward senses are still truly adjusted to each other; who has retained the spirit of infancy even into the era of manhood.”
—Ralph Waldo Emerson (1803–1882)
“In tennis, at the end of the day you’re a winner or a loser. You know exactly where you stand.... I don’t need that anymore. I don’t need my happiness, my well-being, to be based on winning and losing.”
—Chris Evert (b. 1954)