Last diminisher

The "Last Diminisher" is a method used in fair division, particularly in regards to allocating goods or resources among multiple parties in a way that aims to be equitable. It is often applied in scenarios where individuals have different valuations or preferences for a particular item or resource. Here’s a brief explanation of how the Last Diminisher method works: 1. **Initial Proposer**: One participant proposes a division (or allocation) of the item or resource being divided.