The authors explore a sequential offers model of n-person coalitional bargaining with transferable utility and with time discounting. Their focus is on the efficiency properties of stationary equilibria of strictly superadditive games when the discount factor 'delta' is sufficiently large. It is...

This paper examines an infinite-horizon bargaining model, incorporating two-sided incomplete information, uncertainty concerning the potential gains from trade, an illumination of interesting qualitative bargaining issues, and plausible equilibria. These features have powerful implications. A...

The main result of this paper is to characterize the class of two-person social choice correspondences which are Nash-implementable. The characterization result is used to formulate domain restrictions that allow the construction of nondictatorial and Pareto-efficient social choice...