Brisset, Karine; Cochard, François; Maréchal, François - In: Theory and Decision 78 (2015) 4, pp. 639-665
In this paper, we run a laboratory experiment to compare two mechanisms in a procurement setting: Right-of-First-Refusal (ROFR) where the incumbent supplier is granted a privileged position versus standard First-Price-Auction (FPA). To this end, we have subjects compete against a computerized...