buyer, a right of first refusal on the output of another party, the seller. When two parties enter into this type of …

buyer, a right of first refusal on the output of another party, the seller. When two parties enter into this type of …

buyer has an incentive to grant a supplier a right of first refusal. We show that this clause can lower the buyer’s expected … incumbent’s expected utility is higher when he is granted a right of first refusal than when he competes under a first …

this latter form of right of first refusal can have on the outcome of negotiation. Counterintuitively, this “right” of … first refusal can be disadvantageous to its holder. This suggests that applied contract design may benefit from the same …

In this paper, we run a laboratory experiment to compare two mechanisms in a procurement setting: Right-of-First-Refusal …

one bidder a right of first refusal if moves are sequential. We show that the first mover can be more or less aggressive …