C. Caffarra

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                    [post_content] => In the UK petrol retailing industry, oil companies have a variety of contracts from which to choose when structuring the organization of their retail networks. Such contracts range from exclusive supply agreements with independent dealers, to various forms of agreement for the operation of companyowned
sites: tenancies, licences, commission agencies, direct management by company employees; franchising has been recently added to this list.’ The purpose of this paper is to formulate a (possible) interpretation for the assignment of such contracts (i.e. to explain the fact that a filling station is operated under one contract-type, rather than another).
                    [post_title] => A Theory of Contract Choice with Reference to Petrol Retailing: Risk, Incentives, & Competition
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                    [post_content] => The purpose of this paper is to describe the variety of contractual arrangements in use in the UK petrol industry between refiners/wholesalers and their retailers, and assess their respective properties. Section
2 provides a brief account of the evolution of the main contractual options over the past two decades, emphasizing both the process of dynamic change which characterized the choice of organizational form, and the competitive element in such choice (i.e. how changes by one company appear to set in motion a process of adjustment by other companies). The profile of each contract type is outlined in Section 3; the main differences across types are then analysed in an agency framework, with emphasis on the risk-sharing and the incentive properties - explicit and implicit - of each format (Sections 4 and 5).
                    [post_title] => Vertical Contracts in Petrol Retailing
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                    [post_content] => The purposes of this paper ape to explain the economics of inventory behaviour, to describe and analyse the changes in oil inventories since the beginning of the Gulf crisis, and to discuss issues of public policies relating to stocks, In Section 2 we emphasize the different economic function petformed by inventones in times of crisis, when incremed unceeainty
and larger variance of expectations tend to increase desired inventoory levels. Section 3 describes the evolution of petruleurn inventories over the course of the 198Us, aping that the drive to reduce product holdirzgs especially over the decade has reduced their buffer role and therefore increased the vulnerabilify of the supply system when refining capacity is stretched Section 4 evaluates the uvcaiIable evidence on stockholding behaviour since last August, focusing on the difsrent pattern that emerged in three major areas: the USA, Europe and Japan. Finally, Section 5 addresses the issue of public policies and discusses the motivations and perfomance of the major institutional players (EC, EA, DUE) in the context of the current crisis.
                    [post_title] => The Role and Behaviour of Oil Inventories
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            [post_content] => In the UK petrol retailing industry, oil companies have a variety of contracts from which to choose when structuring the organization of their retail networks. Such contracts range from exclusive supply agreements with independent dealers, to various forms of agreement for the operation of companyowned
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