We are indepted to Scott Masten and two anonymous referees for helpful comments that greatly improved the final version of this paper, and to Michael Murray, Kerry Smith, and seminar participants at the Colby-Bates-Bowdoin seminar series and the Southern Economic Association Metings in New Orleans for helpful commenyts on an earlier draft. Financial assistance form the Robert N. Authony and Douglas Chair funds at Colby College is gratefully acknowledged.
What's an Oscar worth?
Version of Record online: 26 MAR 2007
Volume 39, Issue 1, pages 1–6, January 2001
How to Cite
Nelson, R., Donihue, M., Waldman, D. and Wheaton, C. (2001), What's an Oscar worth?. Economic Inquiry, 39: 1–6. doi: 10.1111/j.1465-7295.2001.tb00046.x
- Issue online: 26 MAR 2007
- Version of Record online: 26 MAR 2007
This article examines the impact of an Academy Award nomination and award for best picture, best actor/actress, and best supporting actor/actress on a film's (i) market share of theaters, (ii) average revenue per screen, and (iii) its probability of survival. The model is estimated using weekly box-office data for a matched sample of nominated and non-nominated films. The results indicate substantial financial benefits for a nomination and award for best picture and best actor/actress. The structure of rewards is consistent with that found in two-stage, single-elimination tournaments.