Vany, Arthur De; Walls, W. - In: Journal of Cultural Economics 23 (1999) 4, pp. 285-318
Everyone knows that the movie business is risky. But how risky is it? Do strategies exist that reduce risk? We investigate these questions using a sample of over 2000 motion pictures. We discover that box-office revenues are asymptotically Pareto-distributed and have infinite variance. The mean...