Bradley Ruffle Agues That in Posted Offer Markets with Market

Bradley Ruffle agues that in posted offer markets with market power on the seller side, one can expect to see some amount of demand withholding if the magnitude of the consumer surplus is smaller than the magnitude of the producer surplus. However, Robert Franciosi et al. argue that such demand withholding may depend on perceptions of fairness and may dissipate in the long-run. Clearly explain the difference between these two alternative views with specific reference to the concept of one or more sellers running out of stock. Your answer should be accompanied by a free-hand diagram to back up your arguments.