4 ms·

Value is subjective, area of land is not.

• eru 9y ago
  Subjectivity of value is a challenge to be solved, not an obstacle to capitulate before. Mathematics helps here, too. Game theory to be more precise. Of course, lots of the solutions to fair distribution problems have been discovered before mathematicians got a chance to invent game theory. For two people, the you-cut/I-choose procedure works. For lots of people introducing money is more efficient: just auction off all the plots to the highest bidders, and distribute the proceeds equally. Auctions are a great way to convert subjective valuations into fair numerical valuations. See eg things like https://en.wikipedia.org/wiki/Shapley_value https://en.wikipedia.org/wiki/Shapley_value or https://en.wikipedia.org/wiki/Fair_division https://en.wikipedia.org/wiki/Fair_division
  • guywaffle 9y ago
    Subjectivity can’t be solved from a subject point of view (mortal) since the person would be introducing biases from her/his subjective experiences.