Trading seems like a very impractical process, but do able. It would require the trust of both players to "leave" certain items on the ground, and not all items are droppable. As for stones, I am not sure whether they can be dropped or not.
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Interesting. Maybe I can use it to bait enemy to picking it up and if they don't try then it could be their reward for winning
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I've actually seen a video where a guy set a trap on the bridge in the iron keep. He found a place to hide and sent a line of prism stones down the stairs to the side opposite the bonfire. He left some useless items dropped on the ground and when people tried to pick them up he shot them with a great bow into the lava lol. He used it as a good farming tool for dragon scales =p.