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Vladimir_Nesov comments on Econ/Game theory question - Less Wrong Discussion
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Strictly as formulated, this is not an ultimatum game, for ultimatum game specifies a particular protocol: one player proposes a price, the other has one chance of accepting or rejecting. The post assumes no such restriction, the players could for example go through 100 bargaining iterations of any nature, such as usually proposed in various bargaining protocols.
But as long as the payment itself is not iterated (ie there is still only one easement) then at any point during the bargaining both players can make more money for themselves by pushing for more money.