Fair division of infinitely divisible goods
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School of Business |
Bachelor's thesis
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Authors
Date
2020
Department
Major/Subject
Mcode
Degree programme
Taloustiede
Language
en
Pages
23
Series
Abstract
In my thesis, I examine the theory of fair division of infinitely divisible heterogenous goods from measure theoretic context. I present the main existence theorems of divisions, give graphical representations of division and give an introduction to the algorithmic literature in the area. To present the results, I first define the formal measure theoretic model used in the literature and discuss the concept of fairness. I present the existence theorems of Weller and Dubins and Spanier that give results for the existence of a number of different divisions. With the existence theorems I also discuss the limitations of the model, and look into the impact of some assumptions of the formal model concerning the existence theorems. I present two different geometrical interpretations that can be used to understand and find fair allocations, and in the final part, I consider three algorithms to achieve a fair division.Description
Thesis advisor
Murto, PauliMustonen, Mikko
Keywords
economics, fair division, measure theory, cake cutting