https://www.pcgamer.com/borderlands-3-co-op-players-wont-compete-for-loot-unlike-in-borderlands-2/

Borderlands 3 co-op players won't have to argue over loot after every firefight, unlike in Borderlands 2, Gearbox Software's art director Scott Kester has announced.

In Borderlands 2, players had to fight over the spoils: when a good gun dropped, whoever reached it first got to keep it. But in Borderlands 3, players will see separate loot, which means you can grab and sort through it at your leisure.