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Increasing returns to information and the survival of broadway theatre productions

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Author Info
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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Publisher Info
Article provided by Taylor and Francis Journals in its journal Applied Economics Letters.

Volume (Year): 11 (2004)
Issue (Month): 10 (August)
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. Jeffrey S. Simonoff, 2003. "An Empirical Study of Factors Relating to the Success of Broadway Shows," Journal of Business, University of Chicago Press, vol. 76(1), pages 135-150, January. [Downloadable!]
  2. 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. [Downloadable!] (restricted)
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(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. Ayla Ogus & Sacit Hadi Akdede, 2008. "Death as a measure of duration of conflict," Working Papers 0804, Izmir University of Economics. [Downloadable!]
  2. Cansino Muñoz-Repiso, José Manuel & Sánchez Braza, Antonio, 2009. "Evaluación del programa de Escuelas Taller y Casas de Oficios a partir de su efecto sobre el tiempo de búsqueda del primer empleo. El caso de Sevilla/," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 27, pages 277 (22 P, Abril. [Downloadable!] (restricted)
  3. 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. [Downloadable!]
  4. 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. [Downloadable!] (restricted)
  5. 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. [Downloadable!] (restricted)
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