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Fairness dilemmas arise when groups are faced with making decisions about how to share their resources, rewards, or payoffs. Since resources are limited, groups need to decide on fair ways of apportioning them out to their members. These fairness judgments are determined by procedural and distributive forms of social justice.
A division is called product-envy-free if, for each group, the product of agents' values of the group share is at least the product of their values of the share of any other group. Democratic fairness requires that, in each group, a certain fraction of the agents agree that the division is fair; preferredly this fraction should be at least 1/2.
Fair division is the problem in game theory of dividing a set of resources among several people who have an entitlement to them so that each person receives their due share. . That problem arises in various real-world settings such as division of inheritance, partnership dissolutions, divorce settlements, electronic frequency allocation, airport traffic management, and exploitation of Earth ...
The prisoner's dilemma game illustrates the fact that the process of cooperation itself can create incentives to not cooperate. [31] Each player may make a contribution to a notional public good before all contributions are summed and distributed to players where the "selfish" players are given the opportunity to "free ride".
Equity, or economic equality, is the construct, concept or idea of fairness in economics and justice in the distribution of wealth, resources, and taxation within a society. . Equity is closely tied to taxation policies, welfare economics, and the discussions of public finance, influencing how resources are allocated among different segments of the populati
An allocation is called ex-post envy-free if each and every result is envy-free. Obviously, ex-post envy-freeness implies ex-ante envy-freeness, but the opposite might not be true. Local envy-freeness [ 7 ] [ 8 ] (also called: networked envy-freeness [ 9 ] or social envy-freeness [ 10 ] [ 11 ] ) is a weakening of envy-freeness based on a social ...
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Rabin formalized fairness using a two-person, modified game theory matrix with two decisions (a two by two matrix), where i is the person whose utility is being measured. Furthermore, within the game theory matrix payoffs for each person are allocated. The following formula was created by Rabin to model utility to include fairness: