I study how the arrival of new private information affects bargaining outcomes. A seller makes offers to a buyer. The … delivering the good. Prices fall gradually at the early stages of negotiations, and trade is inefficiently delayed. The first …-best is implementable via a mechanism, whereas all equilibrium outcomes of the bargaining game are inefficient. …

A two-person infinite-horizon bargaining model where one of the players may have either of two discount factors, has a …

bargaining: union contract negotiations. … agreements. Informational differences provide an appealing explanation for bargaining inefficiencies. This chapter provides an … overview of the theoretical and empirical literature on bargaining with incomplete information.The chapter begins with an …