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Profit-Sharing Contracts in Hollywood: Evolution and Analysis

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  • Weinstein, Mark
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    Abstract

    This article examines the development of profit- or revenue-sharing contracts in the motion picture industry. Contrary to much popular belief, such contracts have been in use since the start of the studio era. However, early contracts differed from those seen today. The evolution of the current contract is traced, and evidence regarding the increased use of sharing contracts after 1948 is examined. I examine competing theories of the economic function served by these contracts. I suggest that it is unlikely that these contracts are the result of a standard principal-agent problem. Copyright 1998 by the University of Chicago.

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    Bibliographic Info

    Article provided by University of Chicago Press in its journal Journal of Legal Studies.

    Volume (Year): 27 (1998)
    Issue (Month): 1 (January)
    Pages: 67-112

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    Handle: RePEc:ucp:jlstud:v:27:y:1998:i:1:p:67-112

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    Web page: http://www.journals.uchicago.edu/JLS/

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    Cited by:
    1. Egon Franck & Stephan Nüesch, 2006. "Explaining the Star Shift in the Media– Why “Manufactured” Celebrities are More Lucrative than “Self-Made” Superstars," Working Papers 0057, University of Zurich, Institute for Strategy and Business Economics (ISU).
    2. Jordi McKenzie, 2012. "The Economics Of Movies: A Literature Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 26(1), pages 42-70, 02.
    3. Ch'ng, Kean Siang, 2007. "Evolutionary Concept, Genetic Algorithm and Exhibition Contract in Movie Industry," MPRA Paper 5138, University Library of Munich, Germany.
    4. Christian Jansen, 2003. "Economic Effects of the New German Copyright Contract Law," Law and Economics 0302003, EconWPA.
    5. Gregory Mead Silver, 2010. "Economic effects of vertical disintegration: the American motion picture industry, 1945 to 1955," Economic History Working Papers 30043, London School of Economics and Political Science, Department of Economic History.
    6. Alexis Dantec & Florence Levy, 2005. "Stars et box office : un état des approches théoriques et empiriques," Documents de Travail de l'OFCE 2005-13, Observatoire Francais des Conjonctures Economiques (OFCE).
    7. Feng, Xuehao & Moon, Ilkyeong & Ryu, Kwangyeol, 2014. "Revenue-sharing contracts in an N-stage supply chain with reliability considerations," International Journal of Production Economics, Elsevier, vol. 147(PA), pages 20-29.
    8. Rui de Figueiredo & Evan Rawley & Orie Shelef, 2014. "Bad Bets: Excessive Risk Taking, Convex Incentives, and Performance," Discussion Papers 13-002, Stanford Institute for Economic Policy Research.

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