1. It turns out that there is no way to extend the adjusted winner procedure to three or more players. That is, there are point assignments by three players to three objects so that no allocation satisfies the three desired properties of equability (equal points), envy-freeness, and Pareto optimality. On the other hand, there are separate procedures that will realize any two of the three properties. Thus, tradeoffs must be made, and these may depend on the circumstances. In a few paragraphs, discuss the relative importance of the three properties and circumstances that may affect the choice of which two of the three properties one might wish to have satisfied.