This paper provides an econometric analysis of franchise fees and royalties using a sample of franchises in Québec. Our results do not reveal any evidence of simultaneity between franchise fees and royalties. These elements act as a signal, from franchiser and franchisee, and deal with moral...

We propose a numerical approach to compute stationary Markov perfect Nash equilibrium advertising strategies of the Lanchester model. The algorithm can be implemented using a standard mathematical package, and, importantly, it does not require that the players discount their future earnings at a...