Hollywood Economics - How Extreme Uncertainty Shapes the Film Industry (Hardcover, Annotated Ed)

Contents:
Part 1. Box Office Champions, Chaotic Dynamics and Herding 1. Rank Revenue and Survival 1.1 Introduction 1.2 Exhibition 1.3 Tournaments 1.4 Data 1.5 Survival Model 1.6 Results 1.6.1 Survivors 1.6.2 Survival Rates 1.6.3 Rank and Revenue 1.7 Conclusions 2. Dynamics and Contracting 2.1 Introduction 2.2 Supply 2.2.1 Runs and Revenues 2.2.2 Booking and Supply 2.2.3 Contracting 2.2.4 Adaptation 2.2.5 Release Strategies 2.3 Discovery and Dynamics 2.3.1 Search 2.3.2 Bose-Einstein Distribution 2.3.3 Other Models 2.4 Revenue Distributions 2.4.1 Data 2.4.2 Revenue Concentration 2.4.3 Rank and Revenue 2.4.4 Revenue Distribution Dynamics 2.4.5 Identifying the Dynamic 2.5 Explaining the Industry 2.5.1 Launching the Opening 2.5.2 Adaptive Contracting 2.5.3 Admission Pricing 2.5.4 Rentals 2.5.5 Decentralisation 2.6 Conclusions 3. The Breakdown of Herding 3.1 Introduction 3.2 Information and Demand Dynamics 3.3 The Model 3.4 Estimates 3.5 The Stable Paretian Model 3.6 Bifurcation 3.6.1 Path to Equilibrium 3.6.2 Correlations 3.7 Results 3.8 Conclusions Part 2. "Wild" Uncertainty, Tough Decisions and False Beliefs 4. Uncertainty and Stars 4.1 Introduction 4.2 Related Literature 4.2.1 Motion Picture Uncertainty 4.2.2 Stars 4.2.3 Pareto and Levy Distributions 4.3 Modelling Star Power 4.3.1 Modelling Probability Mass 4.3.2. Risk and Survival 4.4 The Movie Data 4.4.1 Sources 4.4.2 The Run 4.4.3 Revenues, Budgets and Profits 4.5 Estimation Results 4.5.1 Revenue Concentration 4.5.2 Opening and Staying Power 4.5.3 Pareto Distribution 4.5.4 The Probability of a Hit 4.5.5 Stars and Hits 4.5.6 Stars and Profit 4.6 'Greenlighting' Movies 4.7 Conclusions 5. Does Hollywood Make Too Many R-rated Movies? 5.1 Introduction 5.2 Production 5.3 'Greenlighting' 5.4 Ranking by Success Rates 5.4.1 Box Office Revenue Success Rates 5.4.2 Return on Production Cost Success Rates 5.5 Ranking by Stochastic Dominance 5.5.1 Revenues 5.5.2 Production Budgets 5.5.3 Rates of Return 5.5.4 Profits and Losses 6. Openings, Legs and Blockbusters 6.1 Introduction 6.2 Cascades 6.3 Performance Statistics 6.4 Modelling the Box Office 6.4.1 Budgets 6.4.2 Sequels 6.4.3 Opening Screens 6.4.4 Genre and Rating 6.4.5 Stars 6.5 Conclusions Part 3. Judges, Lawyers and the Movies 7. Motion Picture Antitrust 7.1 Motion Picture Economics 101 7.1.1 Discovering Demand 7.1.2 Determining Supply 7.1.3 Structuring Incentives 7.1.4 Contracts 7.2 The Feature Motion Picture 7.3 Integration and Licensing 7.3.1 Admission Prices 7.3.2 Runs and Clearance 7.3.3 Exotic Deals 7.3.4 Block Booking and Blind Selling 7.3.5 Integration and Contracts 7.4 The Courts' Analyses 7.4.1 Bidding for Licenses 7.4.2 Controlling the First Run 7.4.3 Leveraging Monopoly 7.5 Paramount's Effects 7.6 Conclusions 8. Paramount and the Stock Market 8.1 Introduction 8.2 The Studio System 8.3 The Paramount Litigation 8.4 Stock Prices 8.5 Was a Cartel Feasible? 8.6 Winners and Losers 8.7 Conclusions 9. Stochastic Market Structure 9.1 Introduction 9.2 Market Power 9.3 Motion Pictures in the Era of Paramount 9.4 Instability 9.5 Turnover of Leaders 9.6 Standard Models are Wrong 9.7 The HHI Does Not Exist 9.8 Conclusions Part 4. A Business of Extremes 10. Profit and the Curse of the Superstar 10.1 Introduction 10.2 The Stable Hypothesis 10.3 Profit 10.4 The Stable Distribution 10.5 Estimation 10.6 Stable Probabilities 10.7 Nobody Knows 10.8 Superstars and Profit 10.9 Averages 10.10 The Curse of the Superstar 10.11 Success Breeds Success 10.12 The Angel's Nightmare 10.13 Contracting 10.14 Conclusions 11. Artists 11.1 Introduction 11.2 On Becoming a Superstar 11.3 Artists and Kurtosis 11.4 Career Expectations and Opportunities 11.5 Luck or Talent? 11.6 Competing for Stars 11.7 Artist Contracts 11.8 Pay When You Do Know 11.9 Director Contracts 11.10 Conclusions 12. Extreme Uncertainty 12. 1 Introduction 12.2 Complex Systems 12.2.1 Chaos 12.2.2 Complexity 12.3 Universality 12.4 Deep Order 12.4.1 Increasing Returns to Information 12.4.2 Nobody Knows 12.4.3 Dominance of Extreme Events 12.4.4 Self-similarity 12.4.5 Runs, Legs and Chaos 12.5 Complexity and the Stable Paretian Distribution Epilogue: Managing when "Nobody Knows Anything" 12.6 Probabilities 12.7 Inside and Outside the Studio 12.8 Risk and Decision Bias 12.9 Narrow Framing and Sure Things 12.10 Financing Movies 12.11 Causality and Kim Basinger 12.12 A Skeptical Attitude

General

Imprint:	Routledge
Country of origin:	United Kingdom
Series:	Routledge Studies in Contemporary Political Economy
Release date:	September 2003
First published:	2004
Authors:	Arthur De Vany
Dimensions:	234 x 156 x 23mm (L x W x T)
Format:	Hardcover
Pages:	328
Edition:	Annotated Ed
ISBN-13:	978-0-415-31260-8
Categories:	Books > Business & Economics > Economics > Economic theory & philosophy Books > Business & Economics > Industry & industrial studies > Media, information & communication industries > Cinema industry
LSN:	0-415-31260-4
Barcode:	9780415312608

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