Fair Division of Pizza and Value

The video tutorial explores various methods for fair division of goods, using examples like pizza, pie, and cake. It covers basic division without preferences, preference-based division, and introduces methods like the divider-chooser, lone divider, and last diminisher. Each method is explained with practical examples to illustrate how fair shares can be determined based on different valuation perspectives.

How can a $12 pizza with 8 slices be fairly divided among 4 people with no preferences?

• Each person gets 1 slice

• Each person gets 2 slices

• Each person gets 3 slices

• Each person gets 4 slices

If you prefer pepperoni twice as much as veggie, what is the value of the pepperoni half of a $12 pizza?

• $4

• $10

• $6

• $8

For a vegetarian, how much is each veggie slice worth if the whole veggie half is valued at $12?

• $4

• $3

• $2

• $1

In the divider-chooser method, if you value the pie at $6 and the cake at $4, what is the total value you assign?

• $8

• $10

• $12

• $14

In the lone divider method, what happens if a chooser finds a piece fair?

• They divide it further

• They take it

• They trim it

• They pass

In the last diminisher method, who gets the slice if it is trimmed?

• The last person to trim

• The person who cut it

• The next person in line

• The first person