Fair Division
Equitability in fair division means every person’s subjective valuation of their own share of some goods is the same. The surplus procedure (SP) achieves a more complex variant called proportional equitability. For more than 2 people a division cannot always both be equitable and envy-free.
Read more about this topic: Equity (economics)
Famous quotes containing the words fair and/or division:
“Let ideas establish their legitimate sway again in society, let life be fair and poetic, and the scholars will gladly be lovers, citizens, and philanthropists.”
—Ralph Waldo Emerson (1803–1882)
“Imperialism is capitalism at that stage of development at which the dominance of monopolies and finance capitalism is established; in which the export of capital has acquired pronounced importance; in which the division of the world among the international trusts has begun, in which the division of all territories of the globe among the biggest capitalist powers has been completed.”
—Vladimir Ilyich Lenin (1870–1924)