A survey on franchising and an application of incomplete contract
by On Kei Chui
THESIS
2004
M.Phil. Economics
xi, 36 leaves : ill. ; 30 cm
Abstract
Franchising has been widely used in many of the industries. Research on this issue has developed for over 50 years. This paper intends to provide a brief summary on the latest information in this research field and to discuss the various issues addressed in the literature. In addition, a modified incomplete contract model will be presented, in order to act as an alternative explanation on why firms in certain industries choose to franchise. Externality will be the key factor in this modified model.
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