Levmore–Cook moving-knives procedure

The Levmore–Cook moving-knives procedure is a method used in fair division, particularly in the context of dividing a resource (usually a continuous one) among two or more parties in a way that aims to be equitable. This procedure is especially relevant in scenarios involving heterogeneous preferences, where the parties have different valuations of the resource being divided. ### Overview of the Procedure 1. **Setup**: Imagine a continuous interval, which can represent anything that can be divided (like a cake).