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Are There Too Many Revivals on Broadway? A Stochastic Dominance Approach

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  • David Maddison

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Abstract

According to many theater critics not only does Broadway produce too many revivals but there is an increasing tendency to produce revivals in preference to original shows. Nonparametric techniques are used to test for a trend in the proportion of new shows accounted for by revivals. These tests indicate that the proportion of revivals is indeed increasing over time. Using nonparametric techniques again to test for stochastic dominance it is difficult to argue that Broadway produces too many revivals. Although original productions on average run for longer, revivals are much less likely to close after only a small number of performances. Copyright Springer Science + Business Media, Inc. 2005

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File URL: http://hdl.handle.net/10.1007/s10824-005-0867-y
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Bibliographic Info

Article provided by Springer in its journal Journal of Cultural Economics.

Volume (Year): 29 (2005)
Issue (Month): 4 (November)
Pages: 325-334

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Handle: RePEc:kap:jculte:v:29:y:2005:i:4:p:325-334

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Web page: http://www.springerlink.com/link.asp?id=100284

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Keywords: Broadway theater; stochastic dominance;

References

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  1. De Vany, Arthur & Lee, Cassey, 2001. "Quality signals in information cascades and the dynamics of the distribution of motion picture box office revenues," Journal of Economic Dynamics and Control, Elsevier, vol. 25(3-4), pages 593-614, March.
  2. Davidson, Russell & Duclos, Jean-Yves, 1998. "Statistical Inference for Stochastic Dominance and for the Measurement of Poverty and Inequality," Cahiers de recherche 9805, Université Laval - Département d'économique.
  3. Arthur De Vany & W. David Walls, 2002. "Does Hollywood Make Too Many R-Rated Movies? Risk, Stochastic Dominance, and the Illusion of Expectation," The Journal of Business, University of Chicago Press, vol. 75(3), pages 425-452, July.
  4. Jeffrey S. Simonoff, 2003. "An Empirical Study of Factors Relating to the Success of Broadway Shows," The Journal of Business, University of Chicago Press, vol. 76(1), pages 135-150, January.
  5. David Maddison, 2004. "Increasing returns to information and the survival of broadway theatre productions," Applied Economics Letters, Taylor & Francis Journals, vol. 11(10), pages 639-643.
  6. Y.K. Tse & Xibin Zhang, 2003. "A Monte Carlo Investigation of Some Tests for Stochastic Dominance," Monash Econometrics and Business Statistics Working Papers 7/03, Monash University, Department of Econometrics and Business Statistics.
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Cited by:
  1. A. E. Scorcu & R. Zanola, 2011. "Survival in the Cultural Market: The Case of Temporary Exhibitions," Working Paper Series 36_11, The Rimini Centre for Economic Analysis.

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