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:
“But hospitality must be for service, and not for show, or it pulls down the host. The brave soul rates itself too high to value itself by the splendor of its table and draperies. It gives what it hath, and all it hath, but its own majesty can lend a better grace to bannocks and fair water than belong to city feasts.”
—Ralph Waldo Emerson (1803–1882)
“For a small child there is no division between playing and learning; between the things he or she does “just for fun” and things that are “educational.” The child learns while living and any part of living that is enjoyable is also play.”
—Penelope Leach (20th century)