Bestsellers and Blockbusters: Movies, Music, and Books
W.D. Walls, University of Calgary, Calgary, Alberta, Canada
This chapter is a survey on the economics of blockbusters and bestsellers in popular entertainment and culture, with a particular focus on empirical methods and applications to movies, music, and books. We first survey various conceptual models on the economics of superstars and the winner-take-all nature of product success. We then survey the range of statistical methodologies that can be used to quantify formally the winner-take-all nature of the distribution of success while estimating the correlates of success across competing titles. In separate subsections for movies, music, and books, we survey the empirical ...