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Full Idea
To fairly divide a cake between two children, the first divides it and the second chooses. …Even division is best, as it anticipates the second child will take the largest piece. Fairness is enforced by the children's self-interests.
Gist of Idea
Self-interest can fairly divide a cake; first person cuts, second person chooses
Source
William Poundstone (Prisoner's Dilemma [1992], 03 'Cake')
Book Ref
Poundstone,William: 'Prisoner's Dilemma' [OUP 1992], p.43
A Reaction
[compressed] This is introduced as the basic principle of game theory. There is an online video of two cats sharing a dish of milk; each one drinks a bit, then pushes the dish to the other one. I'm sure two children could manage that.
| 22717 | Self-interest can fairly divide a cake; first person cuts, second person chooses [Poundstone] |
| 22718 | Formal game theory is about maximising or minimising numbers in tables [Poundstone] |
| 22719 | The minimax theorem says a perfect game of opposed people always has a rational solution [Poundstone] |
| 22720 | Two prisoners get the best result by being loyal, not by selfish betrayal [Poundstone] |
| 22721 | The tragedy in prisoner's dilemma is when two 'nice' players misread each other [Poundstone] |
| 22723 | Do unto others as you would have them do unto you - or else! [Poundstone] |
| 22722 | TIT FOR TAT says cooperate at first, then do what the other player does [Poundstone] |