Ready, Fire, Aim! - Mihail's Public Blog: Star power?

Monday, August 28, 2006

Star power?

This New York Times story (registration required) evaluates the value of a star, in the aftermath of the Tom Cruise-Sumner Redstone fireworks:

“There is no statistical correlation between stars and success,” said S. Abraham Ravid, a professor of economics and finance at Rutgers University, who, in a 1999 study of almost 200 films released between 1991 and 1993, found that once one considered other factors influencing the success of a film, a star had no impact on its rate of return. Employing a star had virtually no discernible impact on the box office itself. Mr. Cruise would no doubt object to that assertion. And to be fair, there is some theoretical pedigree to the idea that he may be worth every penny. In fact, there is a whole branch of economics that aims to explain how talented people generate so much more money than competitors who are only slightly less good. It’s called “superstar economics.”

Previous: Doing GOOD - New Entries - Next: Gozoof recommendations on getting book published

Headlines (What is this?)

Referrals - About Us - Press - Terms of Use - Privacy Policy - Conduct Policy
Copyright © 2019 Shaycom Corporation. All rights reserved.