When an economic exchange requires agreement by multiple independent parties, the potential exists for an individual to strategically delay agreement in an attempt to capture a greater share of the surplus created by the exchange. This ‘‘holdout problem’’ is a common feature of the...

Using a simple, double-blind dictator experiment, we examine the extent to which subjects' choices of distributive shares are influenced by unearned social position. We measure social position by the initial distributive shares (resources) and the subjects' ability to determine the final...

This paper presents a two-stage team rent-seeking model with a contest prize that is not excludable among winning team members. When early effort is a perfect substitute for late effort, early actors can free ride on their late-moving teammates. However, when early and late efforts are...