In an experiment on a subjective claims problem we compare three unanimity bargaining procedures - the Demand, the Offer and the Exit variant - in terms of fairness and efficiency. To assess the fairness of the allocations obtained by these procedures, we evaluate them from a partial point of...

In a subjective claims problem several agents have contributed to the production of a cake which is to be divided among them. Since contributions are difficult to compare and the production function is nonlinear, agents'subjective evaluations of claims are likely to be conflicting. In a...

This paper studies a two-sided incomplete information bargaining model between a seller and a buyer. The buyer has an outside option, which is modeled as a sequential search process during which he can also choose to return to bargaining at any time. Two cases considered: In Regime I, both...