Imagine two individuals, R and G, are to inherit 100 ancient coins. The coins are perceived to be of somewhat different but unspecified values. By the division 60 coins will go to R and 40 to G. The question is how to come up with a randomized algorithm so that the division will appear fair.
1-What branch of mathematics considers such problems?
2-Can you give precise definitions/solutions/references?
3-Is the following a viable solution? Arrange a bingo game with 100 balls in the container. 60 red and 40 green. In each turn randomly pull a ball, note the color and set it aside. If the color of the pulled ball is red then R will pick a coin of his/her choice. If the color is green then G will pick a coin. Repeat the game with the remining balls until all coins are chosen.
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