All Rights Reserved
AccessEcon LLC 2006, 2008.
Powered by MinhViet JSC
ralph lauren polo

 
Leandro Arozamena and Federico Weinschelbaum
 
''A note on the suboptimality of right-of-first-refusal clauses''
( 2006, Vol. 4 No.24 )
 
 
We show that, under independent private values, no mechanism that contains a right-of-first-refusal clause can maximize the sum of the utilities of the seller and the right-holder.
 
 
Keywords: Auctions
JEL: D4 - Market Structure and Pricing: General
L1 - Market Structure, Firm Strategy, and Market Performance: General
 
Manuscript Received : Jul 05 2006 Manuscript Accepted : Jul 05 2006

  This abstract has been downloaded 548 times                The Full PDF of this paper has been downloaded 87710 times