A theory of contract choices with reference to petrol retailing : risk, incentives, and competition
In UK petrol retailing, the vertical relationship between manufacturer (refiner/wholesaler) and retailer is governed by a menu of possible contracts, characterized by different typical unit margins. In ‘agency’ terms, each contract type thus incorporates an implicit risk/incentives trade-off, with h...
| Main Author: | |
|---|---|
| Format: | Working paper |
| Language: | English |
| Published: |
Oxford Institute for Energy Studies
1994
|