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Wiley InterScience | |||||||||
  The Economic History ReviewVolume 58 Issue 2, Pages 310 - 351 Published Online: 14 Apr 2005 © 2010 Economic History Society Published on behalf of the Economic History Society
Abstract | References | Full Text: HTML, PDF (Size: 303K) | Related Articles | Citation Tracking  The decline and fall of the European film industry: sunk costs, market size, and market structure, 1890–1927 Copyright Economic History Society 2005 ABSTRACTIn 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. First submitted 19 April 2004
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