In problems of fair division, the adjusted winner procedure is used to partition a bundle of goods between two players in such a way as to minimize envy and maximize efficiency and equitability. The procedure is used in divorce settlements and illustrates the concept of Nash equilibria. Fair division, also known as the cake cutting problem, is the problem of dividing a resource in such a way that each recipient believes they have received their fair share. ... In mathematical sociology and especially game theory, envy free is a property of certain fair division algorithms for a divisible heterogeneous good over which different players may have different preferences. ... Pareto efficiency, or Pareto optimality, is an important notion in economics with broad applications in game theory, engineering and the social sciences. ... Divorce or dissolution of marriage is the ending of a marriage before the death of either spouse. ... In game theory, the Nash equilibrium (named after John Nash) is a kind of optimal strategy for games involving two or more players, whereby the players reach an outcome to mutual advantage. ...

The method is also interesting from an ethical perspective as it appears to encourage honesty. Ethics (from the Ancient Greek ethikos, meaning arising from habit), a major branch of philosophy, is the study of value or quality. ... Look up Honesty in Wiktionary, the free dictionary. ...