Comic Book Trade Example:

When I was young, say five or six, my father would frequently work late.  Occasionally, on these late nights, my father would bring token gifts to my older brother and me.  As we both liked comic books, Dad would bring us the most recent releases.  I preferred Donald Duck; my brother’s favorite was Mickey Mouse.  Dad would hide the comics behind his back and one of us would select either the left or right hand as our choice, an exercise in probability.

Assume that my brother choose the hand holding the Donald Duck comic, not his favorite.  I, of course, would end up with the Mickey Mouse…not the optimal outcome or pattern.

SUMMARY:

ME BROTHER

MICKEY MOUSE DONALD DUCK

COMIC  COMIC

Is there a strategy or act that will increase social welfare?

ME  BROTHER

DONALD DUCK MICKEY MOUSE

COMIC  COMIC

Is anyone better off, that is, wealthier as a result of the trade?