This paper considers the effect of market structure on the durability of goods. A previous model is analyzed to provide conditions under which a monopolist provides less durable goods and a lower present value of services than the social optimum.

This paper extends the Stahl-Rubinstein model of bilateral bargaining to incorporate many players and multidimensional issue spaces. A central feature of our framework is that in each round of negotiations, a proposer is selected randomly. Our bargaining model consists of a sequence of...