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One possible interpretation
If I have a player that I think is a no-brainer 1st round free agent.... and the only offer I can get is a 3rd or 4th round free agent... and I have a 1st rounder and a 2nd rounder.... I may drop the player and try to pick him with my 1st rather than give him to you with a 3rd. Because if I can get him back as a 1st then I've done ok. On the other hand... if you offer a 2nd for this player I may be tempted to do that deal.
So to say it another way... if I have to give up a little too much it may be ok. But if you insist on shafting me by an unreasonable amount I may just say forget it and roll the dice on trying to get the guy back.
Its rare... and usually it happens with prospects rather than proven players (in a too many player situation rather than a too high PB value situation)... but I have thrown players into the FA pool and drafted them back in the FA draft.