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Increasing returns to information: evidence from the Hong Kong movie market

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  • W. David Walls

Abstract

We examine a sample of 300 movies that appeared on the top-10 charts in Hong Kong. We apply an empirical test proposed by Ijiri and Simon (1974) and find that movie revenues in the territory of Hong Kong are consistent with the hypothesis of increasing returns to information. This empirical result confirms the results of De Vany and Walls (1996) who found evidence of increasing returns to information in their analysis of movie data from the US Top-50 charts.

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Bibliographic Info

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

Volume (Year): 4 (1997)
Issue (Month): 5 ()
Pages: 287-290

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Handle: RePEc:taf:apeclt:v:4:y:1997:i:5:p:287-290

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Cited by:
  1. Jordi McKenzie, 2010. "Do 'African American' films perform better or worse at the box office? An empirical analysis of motion picture revenues and profits," Applied Economics Letters, Taylor & Francis Journals, vol. 17(16), pages 1559-1564.
  2. Jordi McKenzie, 2009. "Revealed word-of-mouth demand and adaptive supply: survival of motion pictures at the Australian box office," Journal of Cultural Economics, Springer, vol. 33(4), pages 279-299, November.
  3. Gaffeo, Edoardo & Scorcu, Antonello E. & Vici, Laura, 2008. "Demand distribution dynamics in creative industries: The market for books in Italy," Information Economics and Policy, Elsevier, vol. 20(3), pages 257-268, September.
  4. 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.
  5. M. Rimscha, 2013. "It’s not the economy, stupid! External effects on the supply and demand of cinema entertainment," Journal of Cultural Economics, Springer, vol. 37(4), pages 433-455, November.
  6. W. D. Walls, 2009. "The Market for Motion Pictures in Thailand: Rank, Revenue, and Survival at the Box Office," International Journal of Business and Economics, College of Business, and College of Finance, Feng Chia University, Taichung, Taiwan, vol. 8(2), pages 115-131, August.
  7. 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.
  8. 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.
  9. 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.
  10. Jordi McKenzie, 2010. "How do theatrical box office revenues affect DVD retail sales? Australian empirical evidence," Journal of Cultural Economics, Springer, vol. 34(3), pages 159-179, August.
  11. Arthur De Vany & W. Walls, 1999. "Uncertainty in the Movie Industry: Does Star Power Reduce the Terror of the Box Office?," Journal of Cultural Economics, Springer, vol. 23(4), pages 285-318, November.
  12. 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.

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