Who receives the collection of frogs?
Abraham had the most elevated offer.
What is each person’s fair share of the monetary value of the collection?
a. Abraham’s is $4,000
b. Charlene’s is $3,000
c. Bobby’s is $2,000
Why is the monetary amount of each fair share different?
Since every individual offer an alternate sum that was isolated by 3 (the aggregate of individuals). The sum demonstrates their estimation of the accumulation and each esteemed it unexpectedly.
How much money is owed to each of the two people who did not “win”?
a. Charlene gets $3,000 (what’s coming to her) in addition to $1,000 (the split of the remaining)
b. Bobby gets $2,000 (what’s coming to him) in addition to $1,000 (the split of the extra).
In your opinion how “Fair” is the process?
I think the fixed offering process is reasonable if the offers are kept private, in light of the fact that occasionally individuals who know their identity offering against can put in a high offer in view of their insight into how they recommend that individual will offer, particularly in light of the fact that they know they will never bear the cost of the offer in any case. Another factor that may influence how this procedure is reasonable or not is whether the bidders have the trade to take an interest in the offer in any case. They need to have enough money to pay off their offers and others thus to be reasonable just those that have the money ought to take part. The two lower bidders made out in what’s coming to them in light of the measure of the higher bidder (Just Division, n.d.).
Is there a better way to handle this?
The decent amount is simpler if there are fewer things to isolate among the bidders and if the items are in a similar esteem. For this situation it is the estimation of the frogs – only one thing so accordingly this strategy will work better with the decent amount. The most astounding bidder got the frogs, got what’s coming to him and offer of surplus in the kitty. Appears somewhat confused to me (James, 2018). Clear is another strategy for three individuals which is the solitary divider technique where every individual gets an equivalent offer of everything. This strategy is reasonable because it ensures approach shares for every one of the three people
James. (2018, February 26). Course here. Retrieved from https://www.coursehero.com/file/p7ne5vn/Abraham-unseals-his-estimate-of-the-value-of-the-collection-at-1200000-Bobbys/
Fair Division Problems and Fair division schemes. (n.d.). Retrieved from:
Fair Division (2013). Retrieved from: