AT THE MOVIES: THE ECONOMICS OF EXHIBITION CONTRACTS

From: Economic Inquiry | Date: April 1, 2005| Author: Besocke, Portia; Switzer, David; Filson, Darren | Copyright information

We describe a real-world profit sharing contract-the movie exhibition contract-and consider alternative explanations for its use. Two explanations based on difficulties with forecasting fit the facts better than asymmetric information models. The first emphasizes two-sided risk aversion; the second emphasizes measurement costs. Transaction costs and long-term relationships also affect contractual practices. We use an original data set of all exhibition contracts involving 13 theaters owned by...

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