Use the following information to answer the Questions:
Three children must make fair division of a painting and sculpture left them by their mother. Using the Knaster inheritance procedure, the value each child places on the objects is shown below. $$\begin{array} { l l l l }
\text { Object } & A & B & C \
\text { Painting } & \$ 4000 & \$ 6300 & \$ 6000 \
\text { Sculpture } & \$ 2300 & \$ 1800 & \$ 2400
\end{array}$$
-Who gets the sculpture?
A) A
B) B
C) C

Question

Use the following information to answer the Questions:
Three children must make fair division of a painting and sculpture left them by their mother. Using the Knaster inheritance procedure, the value each child places on the objects is shown below. $$\begin{array} { l l l l } 
\text { Object } & A & B & C \
\text { Painting } & \$ 4000 & \$ 6300 & \$ 6000 \
\text { Sculpture } & \$ 2300 & \$ 1800 & \$ 2400
\end{array}$$
-Who gets the sculpture?
A) A
B) B
C) C

Quizplus · Accepted Answer

The Knaster inheritance procedure involves each child bidding on the items based on their perceived value, with the item going to the highest bidder who then compensates the others based on the average perceived value. In this case, Child C values the sculpture the highest at $2400, so according to the procedure, Child C would get the sculpture.

Use the Following Information to Answer the Questions: Three Children

Use the Following Information to Answer the Questions:
Three Children