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Author: | Vany, A. De Walls, W. D. |
Title: | Does Hollywood make too many R-rated movies? Risk, stochastic dominance, and the illusion of expectation |
Journal: | Journal of Business
2002 : JUL, VOL. 75:3, p. 425-451 |
Index terms: | Statistical methods Stochastic processes Financial theory USA |
Language: | eng |
Abstract: | The authors estimate the probability distributions of budgets, revenues, returns, and profits to G-, PG-, PG13-, and R-rated movies.The distributions are non-Gaussian and show a selfsimilar stable Paretian form with nonfinite vriance and nonstationary mean. The profit distributions have asymmetric tails, which means that Hollywood could trim its "downside" risk while increasing its "upside" possibilities by shifting produvtion dollars out of R-rated movies into G-, PG-, and PG13-rated movies. "downsside" risk while increasing its "upside" possibilities |
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