We conduct a novel experimental test of the Coase conjecture using subjects' private information about preferences for fairness. In an infinite horizon bargaining game, a proposer proposes a division of chips, until a responder accepts. Given private information about fairness preferences and...

We investigate a partially directed search market where buyers search for sellers and then final prices are determined by ultimatum game bargaining. In the search stage of this game, sellers post intervals of possible surplus splits to attract buyers and then buyers approach one seller from whom...