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Increasing returns to information and the survival of broadway theatre productions

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  • David Maddison

Abstract

Many similarities exist between films and live theatre. Examination of the relationship between the log rank of a Broadway show and the number of performances reveals a significant departure from the Pareto distribution. This matches findings made for the corresponding relationship between log rank and film revenues. Using models of duration it is shown that a variety of characteristics, including genre, determine the number of performances on Broadway and whether the show is in receipt of prestigious awards. These findings are also similar to those for films except for the fact that as the duration of a run increases, the hazard rate declines. This is consistent with a situation when individuals base decisions on which show to attend partially on the observed length of a theatrical run. Over time theatrical productions are tending to survive longer in the market place and original shows tend to outlast revivals.

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File URL: http://www.informaworld.com/openurl?genre=article&doi=10.1080/1350485042000227304&magic=repec&7C&7C8674ECAB8BB840C6AD35DC6213A474B5
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

Volume (Year): 11 (2004)
Issue (Month): 10 ()
Pages: 639-643

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Handle: RePEc:taf:apeclt:v:11:y:2004:i:10:p:639-643

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  1. Ijiri, Yuji & Simon, Herbert A, 1974. "Interpretations of Departures from the Pareto Curve Firm-Size Distributions," Journal of Political Economy, University of Chicago Press, vol. 82(2), pages 315-31, Part I, M.
  2. 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.
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Citations

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Cited by:
  1. E. Gaffeo & A. E. Scorcu & L. Vici, 2008. "Demand Distribution Dynamics in Creative Industries: the Market for Books in Italy," Working Papers 630, Dipartimento Scienze Economiche, Universita' di Bologna.
  2. Andrés González-Moralejo, S & Compés López, R, 2009. "Problemas contractuales y acuerdos de subcontratación: El caso de la logística frigorífica en la industria alimentaria valenciana/," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 27, pages 279 (30 Pá, Abril.
  3. Melissa Boyle & Lesley Chiou, 2009. "Broadway productions and the value of a Tony Award," Journal of Cultural Economics, Springer, vol. 33(1), pages 49-68, February.
  4. Arthur Vany & W. Walls, 2007. "Estimating the Effects of Movie Piracy on Box-office Revenue," Review of Industrial Organization, Springer, vol. 30(4), pages 291-301, June.
  5. David Giles, 2007. "Increasing returns to information in the US popular music industry," Applied Economics Letters, Taylor & Francis Journals, vol. 14(5), pages 327-331.
  6. W. Walls, 2010. "Superstars and heavy tails in recorded entertainment: empirical analysis of the market for DVDs," Journal of Cultural Economics, Springer, vol. 34(4), pages 261-279, November.
  7. Richard S.J. Tol, 2007. "The Matthew Effect Defined And Tested For The 100 Most Prolific Economists," Working Papers FNU-143, Research unit Sustainability and Global Change, Hamburg University, revised Aug 2007.
  8. David Giles, 2007. "Survival of the hippest: life at the top of the hot 100," Applied Economics, Taylor & Francis Journals, vol. 39(15), pages 1877-1887.
  9. Richard S. J. Tol, 2013. "The Matthew Effect for Cohorts of Economists," Working Paper Series 5513, Department of Economics, University of Sussex.
  10. David Maddison, 2005. "Are There Too Many Revivals on Broadway? A Stochastic Dominance Approach," Journal of Cultural Economics, Springer, vol. 29(4), pages 325-334, November.

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