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SUMMARY:The Disputed Garment Problem: the Maths of Bargaining and Arbitrat
 ion - Professor Richard Weber\, University of Cambridge
DTSTART:20080207T170000Z
DTEND:20080207T180000Z
UID:TALK9677@talks.cam.ac.uk
CONTACT:6775
DESCRIPTION:*This talk will illustrate how mathematics can be used in deci
 sion-making\, focusing specifically on mathematical ways in which to decid
 e the outcome of disputes.*  For example\, suppose a company goes bankrupt
  and has only £4 million left to divide amongst its creditors.  What is a
  sensible way for the remaining money to be partitioned amongst three cred
 itors who are respectively owed £1 million\, £2 million and £3 million?
   Should they receive equal shares\, proportional shares\, or something el
 se? This type of problem can be found as far back as 600 AD in the Babylon
 ian Talmud.  In modern times\, bargaining questions also formed part of th
 e famous work of the Nobel Laureate John Nash. \n\n*About the speaker:* Ri
 chard Weber is Churchill Professor of Mathematics for Operational Research
 .  He is interested in problems in communications and systems\, and the ma
 thematics of optimization\, algorithms\, probability and game theory.  He 
 once had a particularly exciting opportunity to apply his knowledge of gam
 e theory when appearing as a contestant on "Who Wants to be a Millionaire?
 ".\n\n*Audience:* ages 16+\, general public\n\n*Admission to the lecture i
 s free but by ticket only.  *For tickets please e-mail Heather Benucci at 
  mmptalks@hermes.cam.ac.uk or call 01223 766839\; include your name\, the 
 title and date of the lecture\, the number of tickets requested and a post
 al address in your message.\n\nVisit the "MMP site":www.mmp.maths.org to s
 ign up for future notifications of MMP events \n
LOCATION:MR2\, Mathematical Sciences\, Centre for
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