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Fair Division

Description:

Fair division, also known as the cake cutting problem, is the problem of dividing a resource in such a way that all recipients believe that they have received a fair amount. The problem is easier when recipients have different measures of value of the parts of the resource: in the "cake cutting" version, one recipient may like marzipan, another prefers cherries, and so on—then, and only then, the n recipients may get even more than what would be one n-th of the value of the "cake" for each of them.

Brief description: How can a group of people cut up a cake so that each gets what they consider to be a fair share?

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