nerzhin comments on Econ/Game theory question - Less Wrong Discussion
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This looks very much like an ultimatum game, with Player A playing the proposer (how much of her $500,000 will she share?) and Player B as the responder (his role is to either accept or decline).
As has been pointed out, it is not, because there is continuous interaction, bargaining, and perhaps the potential for pre-commitments, though as I mentioned, those could be risky.