Bakker, Gerben (2003) The decline and fall of the European film industry: sunk costs, market size and market structure, 1890-1927. Economic History Working Papers, 70/03. Department of Economic History, London School of Economics and Political Science, London, UK.
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In the 1900s, the European film industry exported throughout the world, at times supplying half the US market. By 1920, however, European films had virtually disappeared from America, and had become marginal in Europe. Theory on sunk costs and market structure suggests that an escalation of sunk costs during a rapid US growth phase resulted in increased concentration; eight surviving companies dominated international film production and distribution forever after. European film companies, although overall profitable, could not take part, and after the war could not catch up. US, British and French time series data for 1890-1930 support the theory.
|Item Type:||Monograph (Working Paper)|
|Additional Information:||© 2003 The Author|
|Library of Congress subject classification:||H Social Sciences > HC Economic History and Conditions
D History General and Old World > D History (General) > D901 Europe (General)
H Social Sciences > HD Industries. Land use. Labor
D History General and Old World > D History (General) > D204 Modern History
P Language and Literature > PN Literature (General) > PN1993 Motion Pictures
|Sets:||Departments > Economic History
Departments > Accounting
Collections > Economists Online
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