Bac, M.2016-02-082016-02-0820000938-2259http://hdl.handle.net/11693/25031I study the first-round separating equilibrium of a buyer-seller bargaining game, extended to allow for asymmetric information, strategically delayed offers and offers restricted to a portion of the good. When bargaining is over a consumption good, in equilibrium the “strong” buyer uses a restricted offer if his optimal consumption path is conservative relative to the “weak” buyer. A pure restricted offer may even be a costless, efficient signal. When the good is durable, a pure strategic delay is involved in signaling a strong bargaining position if the discount factor is high.EnglishBargainingDelayRestrictive agendaSequential equilibriumArticle10.1007/s0019900503361432-0479