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At the Movies: The Economics of Exhibition Contracts

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Author Info
Darren Filson
David Switzer
Portia Besocke

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Abstract

We describe a real-world profit sharing contract--the movie exhibition contract--and consider alternative explanations for its use. Two explanations based on difficulties with forecasting fit the facts better than asymmetric information models. The first emphasizes two-sided risk aversion; the second emphasizes measurement costs. Transaction costs and long-term relationships also affect contractual practices. We use an original data set of all exhibition contracts involving 13 theaters owned by a prominent St. Louis exhibitor over a two-year period to inform our theories and test hypotheses. The findings question traditional contract theory and may be relevant for other contracting environments.(JEL L14, L82, D45, D80) Copyright 2005, Oxford University Press.

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File URL: http://hdl.handle.net/10.1093/ei/cbi024
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Publisher Info
Article provided by Oxford University Press in its journal Economic Inquiry.

Volume (Year): 43 (2005)
Issue (Month): 2 (April)
Pages: 354-369
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Handle: RePEc:oup:ecinqu:v:43:y:2005:i:2:p:354-369

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Related research
Keywords:

Find related papers by JEL classification:
L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
D45 - Microeconomics - - Market Structure and Pricing - - - Rationing; Licensing
D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Ch'ng, Kean Siang, 2007. "Evolutionary Concept, Genetic Algorithm and Exhibition Contract in Movie Industry," MPRA Paper 5138, University Library of Munich, Germany. [Downloadable!]
    Other versions:
  2. Ricard Gil, 2006. "Renegotiation, Learning and Relational Contracting," CEI Working Paper Series 2005-14, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University. [Downloadable!]
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This page was last updated on 2008-8-24.


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