Understanding the Last Diminisher Method

The video tutorial explains the Last Diminisher Method, a fair division technique for dividing resources among three or more parties. It outlines the steps involved, including cutting, examining, trimming, and claiming pieces. The method ensures each participant receives a fair share based on their value system. Examples are provided, such as dividing a tropical island and a six-foot sub, to illustrate the process. The tutorial concludes by discussing the fairness of the method, emphasizing that it prevents greed and ensures equitable distribution.

What is the first step in the Last Diminisher Method?

• The last person trims the piece.

• The first person cuts a slice they value as a fair share.

• The second person claims the piece.

• The first person examines the piece.

In the example of dividing a tropical island, what percentage does Player One initially claim?

• 33.3%

• 30%

• 25%

• 20%

What happens if no one modifies the slice in the Last Diminisher Method?

• The slice is discarded.

• The first person to cut it receives it.

• The slice is divided equally among all players.

• The last person to examine it receives it.

What method is used when only two players remain in the division process?

• Equal Share Method

• Divider-Chooser Method

• Random Selection Method

• Last Diminisher Method

In the sub sandwich example, what is each player's fair share when the sub is valued at $25?

• $3

• $6

• $5

• $4

Why might the last player in the Last Diminisher Method receive more than a fair share?

• They can trim the piece to their advantage.

• They can choose not to participate.

• They are allowed to take the entire piece.

• They receive a bonus share.

What is the value of the piece Player Five receives in the sub sandwich example when the sub is valued at $35?

• $8

• $9

• $6

• $7

What ensures fairness in the Last Diminisher Method?

• The piece is divided equally among all players.

• The first player always gets the largest piece.

• The last player can take any piece they want.

• Each player can trim the piece to their perceived fair value.

What happens if a player trims a piece in the Last Diminisher Method?

• They lay claim to the piece if no further trimming occurs.

• The piece is passed to the next player.

• The piece is discarded.

• They automatically receive the piece.

Why is the Last Diminisher Method considered fair even if the last player receives more than a fair share?

• Because everyone else valued the piece at less than or equal to a fair share.

• Because the last player is always the most deserving.

• Because the method is based on random selection.

• Because the last player can choose any piece they want.