This paper analyzes durable goods monopoly in an infinite-horizon, discrete-time game. The authors prove that, as the time interval between successive offers approaches zero, all seller payoffs between zero and static monopoly profits are supported by subgame perfect equilibria. This reverses a...

This paper analyzes a class of alternating-offer bargaining games with one-sided incomplete information for the case of "no gap." If sequential equilibria are required to satisfy the additional restrictions of stationarity, monotonicity, pure strategies, and no free screening, the authors...