STOCHASTIC CAKE DIVISION PROTOCOL

Vladimir V. Mazalov (), Tatyana E. Nosalskaya () and Julia S. Tokareva ()
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Vladimir V. Mazalov: Institute of Applied Mathematical Research, Karelian Research Center of RAS, Petrozavodsk, 185910, Russia
Tatyana E. Nosalskaya: Zabaikalie Institute of Railway Transport, Chita, 672040, Russia
Julia S. Tokareva: Transbaikal State University, Chita, 672039, Russia

International Game Theory Review (IGTR), 2014, vol. 16, issue 02, 1-14

Abstract: We present a multistage stochastic procedure that produces a fair allocation of a cake amongn-person. In each step players observe the collection of the random offers(x1, …, xn), wherex1+ ⋯ + xn= 1. As the proposal emerged players have to make a decision to accept it or reject it. The final decision is defined by majority rule or by consensus. The optimal behavior of the players is derived as a class of threshold strategies.

Keywords: Cake division model; random offers; multistage procedure; threshold strategy; Dirichlet distribution; Nash equilibrium; 22E46; 53C35; 57S20 (search for similar items in EconPapers)
JEL-codes: B4 C0 C6 C7 D5 D7 M2 (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1142/S021919891440009X

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