A seller and a buyer bargain over the terms of trade for an object. The seller receives a perfect signal that determines the value of the object to both players, whereas the buyer remains uninformed. We analyze the infinite-horizon bargaining game in which the buyer makes all the offers. When...

In capturing the famous collapsing case of Easter Island, we set up a model where the society’s ruler has to allocate resources between consumption goods and statue construction. Since the incumbent rulers may be addicted to the glory or pleasure of statue erection, their utility function may...