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Game Theory question: A cake is divided among three people as follows: P cuts the cakes into halves; J chooses her half of the cake; P & J then cut EACH OTHER'S half into what they consider to be equal thirds; W then takes a piece from each player. Are P, J, and W all guaranteed at least one-third of the cake by their own assessment?
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what does this line mean "P & J then cut EACH OTHER'S half into what they consider to be equal thirds;" equal thirds of the original size of cake ..
After step 2, P & J have 1/2 of the cake. Then P cuts J's 1/2-cake into three "equal pieces" and vice versa. So after step 3, P & J each have 3 pieces of cake, approx. 1/6 of the cake each. Up until this point, W doesn't have any cake.
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