We study a model that involves identity-dependent, asymmetric negative external effects. Willingness to pay, which can be computed only in equilibrium, will reflect, besides private valuations, also preemptive incentives stemming from the desire to minimize the negative externalities. We find...

Externalities are shown to induce delays in negotiation games with complete and perfect information where a seller randomly meets one of the potential buyers at each stage of the game. Delays arise both in the finite and the infinite horizon game. In the finite horizon game, we identify delays...