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Wednesday, December 21, 2016

Two People With An Apple, How to Share Fairly?

The question may sounds like typical IQ question, but I find the answer interesting and immediately reminds me of the common situation in estate planning and distribution, which is why I thought to share it here. So let's try to answer this.


How would you do?



Take it simple...
Mathematically, you would be thinking how to cut it into halves, how to make sure that the cut passes through the precise center of the apple and even the angle of the knife cutting through. 


Try to be smart...
IQ question cannot be that easy! So the best way you can come out with is to make them into apple juice and divide equally. That's much more quantifiable compare to cutting it. 

The answer is...
Cut and Choose method or also known as "I Cut, You Choose". Basically it means one person divides the apple into what they believe are equal halves, and the other person chooses the "half" they prefer. Thus, the person that cutting the apple would want to divide as fairly as possible, so that he or she will not be left with an undesirable portion. 


无怨一定公平,但是公平不一定无怨。


Envy-Free Fair Division.
Thru cut and choose method, both party would be satisfied without complaints, so this is an envy-free fair division. Fair division relates so much to the real life problem such as the divorce settlement or even estate distribution, which causes a lot of family dispute



Taken from one of the slides in my "Estate Planning for Greater Family Happiness" talk. 






Through the above example, you can tell fair might not be equal and equal might not be fair. So most importantly, it is the Envy-Free Fair Division solution that is needed to avoid all the complications in the future for estate distribution. No amount of money can compensate for a shattered family. So it is important for you to do your estate planning well now!  


If you didn't get the answer right for the apple distribution,
what about all of your assets which is much more complicated?


Till then. 
Happy planning! ;)

35 comments:

  1. Interesting, Henry! Happy holidays!

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    1. Thanks Shirley! Merry Christmas and Happy Holiday!

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  2. Menarik sangat. Hurmmm... Lain orang lain pemikirannya. For me, Pembahagian tu biarlah seara adil ☺

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    Replies
    1. like my post mentioned, how do you define adil? ;)

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  3. everything must be fair and square, different people different thinking..

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    1. that's what we call envy-free fair division!

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  4. Ya setuju sangat, cara kita menunjukkan siapa kita. btw nice entry bro

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  5. Nice sharing...fair lagi bagus tapi zaman skrg susah nak cari org yg boleh bahagi sama rata

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    1. lol sama rata doesnt mean fair right.

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  6. haah... fair does not mean equal... adil tu bila mana kita meletakkan sesuatu kena pada tempatnya.

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    1. yes exactly! thanks for reading the post!

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  7. Very nice explanation about fair n equal. It opens my eyes the difference between these two. Thank you !

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    1. you are most welcome. glad that it helps! and thanks for reading!

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  8. The idea seems cool even its quite hard for me to digest. But I get it. Haha

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    1. yes it is hard to digest, but if you think about it, that's the best way for envy free fair division.

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  9. Different people think different ways. It is better to be fair than equal but in these days, people tend to get greedy

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    1. yup, especially when it comes to estate distribution.
      for Muslim, eventho there's Faraid Law, but i think some of them still prefer to giveaway as gift right.

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  10. Replies
    1. regardless what you choose, it is going to be envy free fair division. ;)

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  11. Nice sharing henry...
    Btw in science...i would say the second one is the fair one..simply bcause both can get the equal juice one..
    Sharing from my science view

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    1. lol Alia i think you didnt read the whole post.
      Even the juice is not the fairest of all.

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  12. penjelasan yang sangat baik tentang motivasi hidup

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    1. thank you but it has nothing to do with motivasi hidup.

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  13. Nice info, it really reminds me of sharing a husband between two wives in Islam, hehe sorry a bit off topic but its kind of related. Fair certainly doesn't mean equal.


    Jom tingkatkan trafik blog anda dengan 12 tip sempoi ini

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    1. hahaha yes i think it is related. especially when it comes to estate distribution when the husband passed on.

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  14. hey it is a good tip, share equally but discrimination made it became hard, I hate discrimination haha

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    1. i think the word should be fairly, instead of equally right.

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  15. Agree with equal sharing but it also depends on people. Are they willing to share. Human nature sometime a bit stingy.

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    Replies
    1. yes that's why we have seen so many dispute when it comes to estate distribution.

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  16. donno what to say, because am one of the rationalize list this coming month. huhu

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