Shelley,  My colleague, Clayton Vernon, who has a background in  economics, wrote a  short summary of arguments against the ROFR.
We are working on the second approach to the problem: we try to come up with  a numerical estimate of the value of this option.
The fact that an incumbent shipper has this option has  distributional consequences: he has something  of value he never paid for.
Having a numerical estimate of  the value of this option could help to argue against it.
The value of such an option is case specific;  so we shall rather  produce a template you can use for valuation case by case.
Vince Kaminski

auctions with an incumbent's right of first refusal
Shelley, My colleague, Clayton Vernon, who has a background in economics, wrote a short summary of arguments against the ROFR.
We are working on the second approach to the problem: we try to come up with a numerical estimate of the value of this option.
The fact that an incumbent shipper has this option has distributional consequences: he has something of value he never paid for.
Having a numerical estimate of the value of this option could help to argue against it.
The value of such an option is case specific; so we shall rather produce a template you can use for valuation case by case.
Vince Kaminski
rofr numerical estimate incumbent shipper option wrote short summary try come case vince kaminski specific shall help argue value produce template use having