Criteria For A Fair Division
There are a number of widely used criteria for a fair division. Some of these conflict with each other but often they can be combined. The criteria described here are only for when each player is entitled to the same amount.
- A proportional or simple fair division guarantees each player gets his fair share. For instance if three people divide up a cake each gets at least a third by their own valuation.
- An envy-free division guarantees no-one will want somebody else's share more than their own.
- An exact division is one where every player thinks everyone received exactly their fair share, no more and no less.
- An efficient or Pareto optimal division ensures no other allocation would make someone better off without making someone else worse off. The term efficiency comes from the economics idea of the efficient market. A division where one player gets everything is optimal by this definition so on its own this does not guarantee even a fair share.
- An equitable division is one where the proportion of the cake a player receives by their own valuation is the same for every player. This is a difficult aim as players need not be truthful if asked their valuation.
Read more about this topic: Fair Division
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