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タイトル: | Double-sided Moral Hazard and Margin-based Royalty |
著者: | NARIU, Tatsuhiko UEDA, Kaoru LEE, DongJoon |
著者名の別形: | 成生, 達彦 上田, 薫 李, 東俊 |
キーワード: | Double-sided Moral Hazard Franchise Fee Margin-based Royalty Sales-based Royalty |
発行日: | Apr-2009 |
出版者: | 京都大学大学院経済学研究科 |
引用: | Tatsuhiko Nariu, Kaoru Ueda, DongJoon Lee. Double-sided Moral Hazard and Margin-based Royalty. 京都大学大学院経済学研究科Working Paper. 2009-04, 103. |
誌名: | 京都大学大学院経済学研究科Working Paper |
号: | 103 |
抄録: | This paper analyzes royalty modes in the franchise arrangements of convenience stores under double-sided moral hazard. In Japan, the majority of franchisors charge margin-based royalties based on net margins rather than sales-based royalties based on sales. We show that the franchisor can attain the first-best outcome by adopting margin-based royalties under double-sided moral hazard. We consider a case where a franchisee sells two kinds of goods; one is shipped from its franchisor and the other is purchased from another (independent) manufacturer. In this case, the franchisor is completely unable to control the wholesale price of the goods bought from the manufacturer. Therefore, the franchisor cannot achieve the first-best outcome via sales-based royalties under double-sided moral hazard. |
URI: | http://hdl.handle.net/2433/84715 |
出現コレクション: | Working Paper (外国語論文) |
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