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Stuart_Armstrong comments on Let's split the cake, lengthwise, upwise and slantwise - Less Wrong
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Comments (27)
Pareto-optimal in expected utility; and yes, "in the eye of the beholder". The μSMBS I described http://lesswrong.com/lw/2xb/if_you_dont_know_the_name_of_the_game_just_tell/ are Pareto optimal (in the eyes of both players), even if they have different probability distributions over the games to be played (I put that in initially, then took it out as it made the post less readable).