We study a strategic model of dynamic trading where agents are asymmetrically informed over common value sources of uncertainty. There is a continuum of uninformed buyers and a finite number of sellers, some of them informed. When there is only one seller, full information revelation never...

A typical assumption of the standard alternating-offers model under risk is that the breakdown event means a complete and irrevocable halt in negotiations. We reinterpret the meaning of breakdown as the imposition to finish negotiations immediately. Specifically, after breakdown the last offer...

This paper shows that altruism may be beneficial in bargaining when there is competition for bargaining partners. In a game with random proposers, the most altruistic player has the highest material payoff if players are sufficiently patient. However, this advantage is eroded as the discount...

We study a simple bargaining mechanism in which each player puts a prize to his resources before leaving the game. The only expected final equilibrium payoff can be defined by means of selective marginal contributions vectors, and it coincides with the Shapley value for convex games. Moreover,...

We examine a new class of games, which we call social games, where players not only choose strategies but also choose with whom they play. A group of players who are dissatisfied with the play of their current partners can join together and play a new equilibrium. This imposes new refinements on...

In this paper we characterize the set of rules satisfying additivity on the estate along with additivity on the estate and the claims in bankruptcy problems and other related problems. Moreover, new characterizations of the well known rules based on the principles of "equal award", "equal loss",...

We introduce a new value for NTU games with coalition structure. This value coincides with the consistent value for trivial coalition structures, and with the Owen value for TU games with coalition structure. Furthermore, we present two characterizations: the first one using a consistency...