Chapter 3, Problem 44E

Andre, Bea, and Chad are dividing an estate consisting of a small farm, and a painting using the method of sealed bids. Table 3-23 shows the player bids on each of the items.

$Table3-23$

	Andre	Bea	$$ Chade
House	$\$150,000$	$\$146,000$	$\$175,000$
Farm	$\$430,000$	$\$425,000$	$\$428,000$
Painting	$\$50,000$	$\$59,000$	$\$57,000$

a. Describe the first settlement of the fair division and compute the surplus.

b. Describe the final settlement of the fair division problem.