Bose-Einstein dynamics and adaptive contracting in the motion picture industry

• 成果类型: Article
• 署名作者: DeVany, A; Walls, WD
• 署名单位: University of Hong Kong
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• 发表日期: 1996
• 页码: 1493-1514
• 关键词: price

摘要

Audiences discover what films they like and spread the word. Information feedback produces Bose-Einstein dynamics in the motion picture box office revenue distribution. Information cascades generate box office 'hits' and 'flops'. The revenue distribution evolves recursively over the 'run' as a mixture of the 'opening' and a stochastic competition among films. The motion picture run is decentralised, adaptive, and self-organising: semi-stationary admission prices, local information, and contingency-rich contracts match the film rental price and the supply of theatrical engagements to demand.