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"Microeconomics Community Questions TOPICS Supply, demand and market equilibrium Elasticity Consumer and producer surplus Scarcity, possibilities, preferences and opportunity cost Production decisions and economic profit Forms of competition Game theory and Nash equilibrium"

The simplest of the solutions offered by Fair Outcomes, Fair Buy-Sell, is based on an algorithm Brams helped develop in the 1990s. Aimed at delivering the fairest price in buyout situations, such as when two business partners decide to part ways, it requires each side to confidentially submit what he or she believes to be a business's true worth. Each value is absolute; there is no chance to negotiate. The system calls for looking at both bids and determining that the highest bidder will be the buyer. It then sets the price at the mean, or midpoint, of the two values. "They split the difference so that each does better than his offer," says Brams, who chairs the advisory board for Fair Outcomes. "That's the important thing."