Method
Each player is given the list of goods and an equal number of points to distribute among them. He or she assigns a value to each good and submits it sealed to an arbiter.
The arbiter, or a computer program, assigns each item to the high bidder. Then, if players' total point values are unequal, the player with the higher total gives its least valuable asset to the other player; this is repeated, with splitting of a divisible asset if necessary, until the players have equal point values. (Ibid.)
As patented, this method does not handle multiple identical assets with diminishing marginal utility.
Read more about this topic: Adjusted Winner Procedure
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