What is the best means to dividing these items up? Let's define Best as the approach that gives the greatest benefit to the recipients. The submissions will be judged by examining the highest percentage over the expected individual's share of the individual who made the least over their expectation.
Can you elaborate on the bolded part? I'm not sure that I can parse that correctly.
There are many ways to determine a 'best' answer in this question. Both you and Pickett found effective answer and there are in fact more answers that would work in providing everyone at least 25% of the fair share of the goods and money. I am now seeking the answer that provides everyone the most profit. I do not want the average percentage of perceived benefit from the will, I want to award the 'best' solution to the one who can give the most to the person who received the least.
For example: (I am making these percentages up by the way)
Remember each person expects to receive 1/4 of the value of the old man's wealth
strategy 1's allocation strategy gave the following outcomes
strategy 2's allocation strategy gave the following outcomes
person 1= 30%
person 2= 29%
person 3= 28%
person 4= 29%
though the average gain in strategy 1 is 33.25% which is higher than strategy 2, person 1 only made 2% more than expected so this strategy is not preferred when compared to strategy 2 since its lowest recipient got 28% of the perceived wealth or 3% more than expected. So in these hypothetical cases, solution number 2 is perceived as better since the minimum beneficiary is better than the other cases minimum beneficiary.
**and of course these percentages are perceived percentages of value they placed on the old man's wealth.
Edited by BMAD, 08 May 2013 - 06:33 PM.