Fairness criteria | Fair division protocols

Maximin share

Maximin share (MMS) is a criterion of fair item allocation. Given a set of items with different values, the 1-out-of-n maximin-share is the maximum value that can be gained by partitioning the items into n parts and taking the part with the minimum value. An allocation of items among n agents with different valuations is called MMS-fair if each agent gets a bundle that is at least as good as his/her 1-out-of-n maximin-share. MMS fairness was invented by Eric Budish as a relaxation of the criterion of proportionality - each agent gets a bundle that is at least as good as the equal split (1/n of every resource). Proportionality can be guaranteed when the items are divisible, but not when they are indivisible, even if all agents have identical valuations. In contrast, MMS fairness can always be guaranteed to identical agents, so it is a natural alternative to proportionality even when the agents are different. (Wikipedia).

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