(Q) - Five pirates looted a chest full of 100 gold coins. Being a bunch of democratic pirates, they agree on the following method to divide the loot: The most senior pirate will propose a distribution of the coins. All pirates, including the most senior pirate, will then vote. If at least 50% of the pirates (3 pirates in this case) accept the proposal, the gold is divided as proposed. If not, the most senior pirate will be fed to shark and the process starts over with the next most senior pirate… The process is repeated until a plan is approved. You can assume that all pirates are perfectly rational: They want to stay alive and Get as much gold as possible second. Finally, being blood-thirsty pirates, they want to have fewer pirates on the boat if given a choice between otherwise equal outcomes. How will the gold coins be divided in the end? Like Ivy Professional School
Posted on: Thu, 01 May 2014 11:05:56 +0000
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