identify conditions under which the upstream supplier chooses exclusive or non-exclusive negotiations, or an English auction to …-exclusive negotiations with the downstream firm(s). Finally, in contrast to previous findings, an auction is never welfare superior to … negotiations. …

Intuition suggests that an auction maximizes revenue for the seller; yet empirically, many companies sell their … businesses in a negotiation with one buyer. I argue that, when potential buyers are market competitors, an auction may generate … lower revenue for the seller. First, in an auction, private information of the seller is disclosed to all bidders during the …

We compare two commonly used mechanisms in procurement: auctions and negotiations. The execution of the procurement … an intransparent negotiation yields a higher buyer surplus than a transparent auction for a range of parameters. In …