A Note on the Suboptimality of Right-of-First-Refusal Clauses
AbstractWe 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.
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Bibliographic InfoPaper provided by Universidad de San Andres, Departamento de Economia in its series Working Papers with number 92.
Date of creation: Jul 2006
Date of revision: Jul 2006
Publication status: Published in Economic Bulletin, Vol.4, No. 24, pp. 1-5
political economy; structural reforms; Argentina;
Other versions of this item:
- Leandro Arozamena & Federico Weinschelbaum, 2006. "A note on the suboptimality of right-of-first-refusal clauses," Economics Bulletin, AccessEcon, vol. 4(24), pages 1-5.
- D4 - Microeconomics - - Market Structure and Pricing
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
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