Fair division | Matching (graph theory)
Rank-maximal (RM) allocation is a rule for fair division of indivisible items. Suppose we have to allocate some items among people. Each person can rank the items from best to worst. The RM rule says that we have to give as many people as possible their best (#1) item. Subject to that, we have to give as many people as possible their next-best (#2) item, and so on. In the special case in which each person should receive a single item (for example, when the "items" are tasks and each task has to be done by a single person), the problem is called rank-maximal matching or greedy matching. The idea is similar to that of utilitarian cake-cutting, where the goal is to maximize the sum of utilities of all participants. However, the utilitarian rule works with cardinal (numeric) utility functions, while the RM rule works with ordinal utilities (rankings). (Wikipedia).
Unit 5 - pareto optimal allocations part 3
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Better played at speeds greater than 1.5x. Thanks to a subscriber for noticing the error in the code and letting me know.
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Unit 5 - pareto optimal allocations part 2
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