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Publications - 2010


 

An equilibrium theory of learning, search, and wages

Gonzalez, Francisco M. and Shi, Shouyong
 

A Primal Divisia Technical Change Index Based on the Output Distance Function

Feng, Guohua and Serletis, Apostolos
 

Comparing Public and Private Hospitals in China: Evidence from Guangdong

Eggleston, Karen, Lu, Mingshan, Wang, Jian and Zhang, Jing
 

Contract Stability and Private Infrastructure Investment

Wen, Jean-Francois and Yilmaz, Fatih
 

Escaping the Climate Change Quagmire: First Do No Harm. International Energy Workshop; Stockholm, Sweeden; June

Gaisford, James, Sagidova, J. and Still, D.
 

Estimating the impact of refinery outages on petroleum product prices

Kendix, M. and Walls, W. D.
 

Existence Advertising

Eaton, B. Curtis, Ian MacDonald and Laura Meriluoto
 

From Kyoto to Copenhagen: Meeting the Climate Change Challenge

Gaisford, James
 

General stable models of the rate of return to Hollywood films

Walls, W. D.
 

General stable models of the rate of return to Hollywood films

Walls, W. D.

We use the non-symmetric stable distribution to quantify the returns to investments in motion pictures to properly account for asymmetry and infinite variance. We first quantify the unconditional distribution of returns using the normal distribution, the symmetric stable distribution, and the non-symmetric stable distribution and find that the normal and symmetric stable models can be rejected in favor of the non-symmetric stable model. We then model the parameters of the non-symmetric stable distribution---location, dispersion, skewness, and tail exponent---as functions of explanatory variables including a film's budget, presence of marquee (star) talent, and the number of screens on which a film is shown. The location of the returns distribution is increasing in budgets, marquee talent reduces dispersion, and the tail exponent is increasing in a film's budget. Even though the variance of film returns is infinite---so that point predictions have no precision---it is possible to model accurately the conditional probability distribution of film returns. Practical implications and applications of the results are discussed.

 

Government Oversight of Public Universities: Are Centralized Performance Schemes Related to Increased Quantity or Quality?

Roberts, Joanne and Payne, A. Abigail
 

Image Building

Eaton, B. Curtis and White, D. William in Eaton, B. Curtis, Dow, K. Gregory, Eckert, Andrew and West, Douglas Industrial organization, trade, and social interaction : essays in honour of B. Curtis Eaton
 

Learning by Doing, Knowledge Spillovers, and Technological and Organizational Change in High-Altitude Mountaineering

Boyce, John and Diane P. Bischak
 

Macroeconomics: A Modern Approach.

Barro, Robert J. and Serletis, Apostolos
 

Market-Based Policy Instruments, Irrigation Water Demand, and Crop Diversification in the Bow River Basin of Southern Alberta

He, Lixia and Horbulyk, Ted
 

Oil industry consolidation and refined product prices: Evidence from US wholesale gasoline terminals

Kendix, M. and Walls, W. D.
 

Oil Price Uncertainty

Elder, John and Serletis, Apostolos
 

Optimal Privatization of Vertical Public Utilities

Wen, Jean-Francois and Yuan, Lasheng
 

Petroleum refining industry in China

Walls, W. D.
 

Putting Foxes in Charge of the Hen-House: The Political Economy of Harvest Quota Allocations

Boyce, John
 

Short and medium term effects of parental leave on child outcomes

Zarrabi, Mahmood
 

Superstars and heavy tails in recorded entertainment: Empirical analysis of the market for DVDs

Walls, W. D.

This research presents a systematic empirical analysis of the market for digital versatile discs (DVDs). We examine a sample of 953 DVD titles that appeared on the weekly top-30 sales charts in North America over a 30-month interval. We find that the size distribution of weekly DVD sales revenue does not indicate the presence of increasing returns to information. The empirical results for DVD sales contrast starkly with previous results obtained for motion-picture box-office revenue, where a number of researchers have found evidence of positive feedback in demand. While the distribution of cumulative revenues across DVDs is highly unequal, the DVD market appears not to be characterized by the extreme heavy upper tail that so well describes the winner-take-all nature of the distribution of box-office success across motion pictures.

 

Superstars and heavy tails in recorded entertainment: Empirical analysis of the market for DVDs

Walls, W. D.
 

Taxation and R&D: An Investigation of Push and Pull Effects

McKenzie, Kenneth James and Sershun, Natalia
 

The Efficiency of Direct Public Involvement in Environmental Policy Making: An Experimental Test

Bruce, Christopher and Clarik, Jeremy
 

“The Fertility Decisions of Canadian Immigrants

Ferrer, Ana and Adsera, Alicia in Canadian Research on Immigration
 

The Green Solow Model

Taylor, M. Scott
 

The Impact of Disability on Earnings and Labour Force Participation in Canada: Evidence from the 2001 PALS and from Canadian Case Law

Cara L. Brown and Emery, Herbert
 

The Impact of Goods and Services Tax on the Pattern of Canadian Consumer Spending and Saving

Lian, Zeng (Alan) and Emanuel Carvalho
 

The Value of Information in Regulation

Magesan, Arvind and Turner, Matthew
 

Treatment Progress and Patient Compliance in Alcohol Therapy

Lien, Hsienming, Lu, Mingshan, Ma, Ching-to Albert and McGuire, G. Thomas
 

"Un-American" or Unnecessary? America's Rejection of compulsory government health insurance in the Progressive Era

Emery, Herbert
 

UNDP Regional Human Development Report for Perm Krai 2010

Isakin, Maksim, Natalia Zubarevich, Sergey Bobylev, Valeriy Sukhikh and et al.
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