`G180 Module 06 Assignment

  1. Adam, Bonnie and Chad are dividing an estate consisting of a house, a boat and a car using the method of sealed bids. Their bids on each of the items are given in the following table:
  Adam Bonnie Chad
House $220,000 $240,000 $195,000
Boat $70,000 $60,000 $68,000
Car $35,000 $30,000 $36,000
  1. Find the value of each player’s fair share.
  • Describe the first settlement (who gets which item and how much do they owe the estate).
  • Find the surplus after the first settlement is over.
  • Describe the final settlement.

Sharing the surplus of $ 28,000 among the three bidders each gets $ 9,333.333

Therefore, a share fair would have been $120,666.67, and each bidder gets a cash of $9,333.33 and an item.

  • Three players (A, B, and C) agree to divide the 10 items shown below by lining them up in order and using the method of markers. The players’ bids are as indicated.

Summary

Number of players are 3 thus 3 segments

players Segment 1 Segment 2 Segment 3
A 1-2 3-7 8-10
B 1-4 5-8 9-10
C 1 2-5 6-10

a)  Which items go to A?

b)  Which items go to B?

c)  Which items go to C?

d)  Which items are left over? 

 
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