Edited by Trine Bille, Anna Mignosa and Ruth Towse
This chapter provides a framework for introducing the economics of film to students new to the field. The authors organize the presentation around the pre-cinematic stages of development, production and distribution. The development stage is characterized by a high degree of uncertainty; production costs entail significant economies of scale; and distribution strategies are influenced by the experience-good nature of films. Suggested classroom exercises and essay questions draw on students’ experiences as movie-goers, and on widely available data on motion-picture financial success. Exercises include predicting a film’s success, based on key film characteristics, such as director, actor and sequel status; essay questions explore the significance of asymmetric information between studios and consumers on a film’s quality.
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