Suppose Chris and Terry need to make a fair division of a stereo they jointly purchased. Suppose also that both agree Chris is entitled to 2/3 of the stereo and Terry to 1/3. Chris and Terry place monetary bids on the value of the stereo of $500 and $450, respectively. Modify the Knaster inheritance procedure to make a fair division of the stereo.

Question

Quizplus · Accepted Answer

The Answer of Suppose Chris and Terry need to make a fair division of a stereo they jointly purchased. Suppose also that both agree Chris is entitled to 2/3 of the stereo and Terry to 1/3. Chris and Terry place monetary bids on the value of the stereo of $500 and $450, respectively. Modify the Knaster inheritance procedure to make a fair division of the stereo.

Suppose Chris and Terry Need to Make a Fair Division