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Continuous Degrees of Residual Claimancy: Some Contractual Evidence

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  • Darlene Chisholm

Abstract

A data set on share contracts between motion-pictures actors and producers in the United States is used to identify determinants of share size in revenue- and profit-sharing contracts. The evidence suggests that share size balances moral hazard and risk-sharing tradeoffs.

Suggested Citation

  • Darlene Chisholm, 1996. "Continuous Degrees of Residual Claimancy: Some Contractual Evidence," Applied Economics Letters, Taylor & Francis Journals, vol. 3(11), pages 739-741.
    • Handle: RePEc:taf:apeclt:v:3:y:1996:i:11:p:739-741
    DOI: 10.1080/135048596355790
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    References listed on IDEAS

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    1. Khalil Fahad & Lawarree Jacques, 1995. "Input versus Output Monitoring: Who Is the Residual Claimant?," Journal of Economic Theory, Elsevier, vol. 66(1), pages 139-157, June.
    2. Francine Lafontaine, 1992. "Agency Theory and Franchising: Some Empirical Results," RAND Journal of Economics, The RAND Corporation, vol. 23(2), pages 263-283, Summer.
    3. Bengt Holmstrom, 1979. "Moral Hazard and Observability," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 74-91, Spring.
    4. Douglas W. Allen & Dean Lueck, 1993. "Transaction Costs and the Design of Cropshare Contracts," RAND Journal of Economics, The RAND Corporation, vol. 24(1), pages 78-100, Spring.
    5. HOLMSTROM, Bengt, 1979. "Moral hazard and observability," LIDAM Reprints CORE 379, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    6. Leffler, Keith B & Rucker, Randal R, 1991. "Transactions Costs and the Efficient Organization of Production: A Study of Timber-Harvesting Contracts," Journal of Political Economy, University of Chicago Press, vol. 99(5), pages 1060-1087, October.
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    Cited by:

    1. Judy Ma & Dongling Huang & M. Kumar & Andrei Strijnev, 2015. "The impact of supplier bargaining power on the advertising costs of movie sequels," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 39(1), pages 43-64, February.
    2. 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;The Association for Cultural Economics International, vol. 23(4), pages 285-318, November.

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