Hollywood Economics: How Extreme Uncertainty Shapes the Film Industry

Abstract

Part I: Box-office champions, chaotic dynamics and herding 1. The market for motion pictures: Rank, revenue and survival 2. Bose-Einstein dynamics and adaptive contracting in the motion picture industry 3. Quality evaluations and the breakdown of statistical herding in the dynamics of box-office revenue Part II: Wild uncertainty, tough decisions and false beliefs 4. Uncertainty in the movie industry: Can star power reduce the terror of the box office? 5. Does Hollywood make too many R-rated movies?: Risk, stochastic dominance and the illusion of expectation 6. Big budgets, big openings and legs: Analysis of the blockbuster strategy Part III: Judges, lawyers and the movies 7. Motion picture antitrust: The Paramount cases revisited 8. Was the antitrust action that broke up the movie studios good for the movies?: Evidence from the stock market 9. Stochastic market structure: Concentration measures and motion picture antitrust Part IV: A business of extremes 10. Motion picture profit, the stable Paretian hypothesis and the curse of the superstar 11. Contracting with stars when nobody knows anything 12. How extreme uncertainty shapes the movie business Epilogue: Can you manage a business when nobody knows anything?

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