One Sunday afternoon,your mother tells you and your brother that you can make some money by helping her wash dishes.Both of you decide to help her.Once both of you are done with the work,your mother gives you a $20 bill.She also says that you can divide the money between yourself and your brother in any proportion you want,but if your brother does not accept the amount he is being given,she will take all the money back.
a)How much money should you offer your brother if he prefers more money to less?
b)How much money should you offer your brother if you know that your brother prefers fairness to money?

Question

Quizplus · Accepted Answer

The Answer of One Sunday afternoon,your mother tells you and your brother that you can make some money by helping her wash dishes.Both of you decide to help her.Once both of you are done with the work,your mother gives you a $20 bill.She also says that you can divide the money between yourself and your brother in any proportion you want,but if your brother does not accept the amount he is being given,she will take all the money back.
a)How much money should you offer your brother if he prefers more money to less?
b)How much money should you offer your brother if you know that your brother prefers fairness to money?

One Sunday Afternoon,your Mother Tells You and Your Brother That