We introduce a modified version of the Ultimatum game where people bargain over losses instead of gains. Results show that when people bargain over losses, they make more aggressive offers, in terms of their own monetary well-being, as compared to when they bargained over gains.

We consider a two-person multi-stage game with a very sparse information structure. Two players in the blind alternately move a chip which toggles the colors of nodes located around a circle. The second player also controls and picks the stopping time which is unknown to the first player. We...