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ItemAn Economic Analysis of Contractual Relationships in Franchising Systems with Case Studies(University of Edinburgh, 1988) Dnes, Antony WilliamFieldwork methods are used to analyse the nature of franchise systems in the UK. These systems are viewed in terms of their contractual relationships following theoretical approaches suggested by the economics of organisation, including agency analysis. In particular, product, brand and specialised-input franchises are identified and fee schedules are placed in the context of the wider franchise contract. The fieldwork covers 19 case studies of UK franchising systems. The thesis contains a predictive theory of franchising. This identifies initial investments which franchisees undertake as hostages with screening and bonding properties for the franchisor. These hostages influence monitoring costs. The thesis makes an operational, use of modern transaction-cost ideas. ItemThe New Student's Guide to Economics at Universities and Polytechnics(Economic Affairs, 1989-06) Dnes, Antony WilliamOutlines how economics is taught at universities and polytechnic colleges in Great Britain. Introduction of mathematical economics and statistics during the first year; Intermediate work covered during the second or third year; Role of tutorials in giving students a change to discuss their reading and lecture material; Distinction between a seminar and a tutorial. ItemThe Privatisation of British Rail: a Track Record(Economic Review (UK), 1997-09) Dnes, Antony WilliamThe privatization of railroads in the United Kingdom has involved a subsidy for the new companies providing services, and has been carried out in a complex way. Passengers services have been separated from the maintenance of stations and track. Bidders for passenger service operations have mainly been bidding for subsidies. Franchisees are under pressure to maximise profits when railroad services are profitable. Franchisees may have monopoly power so use monopoly pricing, which leads to a net loss for society. Loss-making services involve a subsidy which may not be set at the best level, but bidding may still allow costs to be cut compared to nationalization. ItemThe Regulation of the United Kingdom Electricity Industry: An Event Study of Price-Capping Measures(Journal of Regulatory Economics, 1998-05) Dnes, Antony William; Kodwani, Devendra G.; Seaton, Jonathan S.; Wood, DouglasThe privatization of United Kingdom utilities after 1979 established a regulatory regime based around price capping rather than return capping. This innovation was intended to provide a predictable framework that encouraged efficiency. An event methodology was used to examine stock market reaction to the main regulatory announcements affecting 12 Regional Electric Companies from flotation to 1995. The results indicate that the regulatory announcements were only a minor contributor to the persistent abnormal returns observed. The low connection between regulatory events, efficiency changes and abnormal returns at company level lead to a conclusion that the initial structural and control frameworks dominated the regulatory framework. ItemThe Marketing Firm: a Transactions Cost Approach(Journal of Strategic Marketing, 1998-06) Dnes, Antony WilliamPresents a transactions cost approach in analyzing the concept of the marketing firm. Factors that influence the success of marketing; Transaction costs involved in marketing; Practical lessons provided by the study of long-term contractual relations. ItemCommitment in Licensing Contracts: an Application of Hostage Analysis(Applied Economics Letters, 2001-05) Dnes, Antony WilliamExamines the applications of the economic theory of hostages on license agreements. Applicability of lump-sum payment limits to problems involving the licensing of intellectual capital; Demand and cost conditions in license agreements; Schedules for licensing fees. ItemExternality and Organizational Choice in Franchising(Journal of Economics and Business, 2005-01) Dnes, Antony William; Garoupa, NunoIn this paper, we examine some implications of externality for the organization of firms. The need to control externality explains the selection, at the level of the chain, of full integration, dealerships or franchising systems, or systems of dual distribution where company and franchised outlets operate simultaneously, in preference to unrestricted retailing. We show that there could be a trade-off between managerial motivation and effective controlling of externality. This trade-off can explain the selection of particular organizational structures within franchising. In particular, non-separable externality, where the value of the externality depends upon characteristics of both the generating and affected unit, is costly to control contractually and could encourage integration.