Michael Giberson
From The Economist comes news of a game-theory based software tool that divorcing couples can use to divide property:
Researchers in Australia have developed a computer program that relies on a branch of mathematics known as game theory to produce a fairer outcome when dividing property. Instead of the traditional approach of dividing a couple’s property in half, the system, called Family Winner, guides the couple through a series of trade-offs and compensation strategies. According to John Zeleznikow, a computer scientist at Victoria University in Melbourne, who developed the software with his colleague Emilia Bellucci, the results are fairer because both parties end up with what they value most.
Hadn’t thought of this application before, but I’m sure you could design a combinatorial clock auction to do the same thing. I wonder how the “Family Winner” takes account of combinatorial complications — maybe it isn’t a serious issue for property divisions.
Hat tip to GeekPress.