Ithis would be a cool edition to survival simce it doesnt change much but it does make you want to be more aware if you have a bounty so lets say someone gets killed and they had all their loot on them and lets say josh killed them they could set a bounty on them and maybe someone with an enemy wants to put a bounty on them to not make them a threat no more thats why this should be added to survival :D 

So

If Player A kills Player B...

Player B could set a bounty on Player A

and Player C comes along, kills Player A and gets the reward?
 

yes.

cough cough

Nice suggestion, but what's to stop player D, a friend of player A, to kill A and split the bounty with him/her?

A person's morals?

Sure, but who wouldn't want to rip off the player who put a bounty on your head?

Does it matter? Player A still dies. Albeit, He/she gets paid to die. 

Damn never though bout stuff that way