ABSTRACT In this article, we build on Stigler and Becker’s (1977) “consumption capital theory” and propose a novel conceptualization of film quality for the analysis of motion picture franchises. Generally, this theory predicts that the utility consumers derive from a particular good or service increases with prior consumption. We test our theoretical conjectures by drawing on the population of sequels that were running in the US between 1992 and 2011. The empirical results point to the explanatory power of the proposed framework. Film executives may use our findings to improve the profitability of their sequel productions. From a theoretical point of view, consumption capital theory allows for a more refined analysis of sequel performance along different dimensions. Moreover, it may provide a fruitful basis for the analysis of other serial media content, including books, TV, music, and games.

中文翻译：

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你知道的越多……你享受的越多？将“消费资本理论”应用于电影特许经营

摘要 在本文中，我们以 Stigler 和 Becker (1977) 的“消费资本理论”为基础，提出了一种新的电影质量概念，用于分析电影特许经营权。一般而言，该理论预测，消费者从特定商品或服务中获得的效用随着先前消费的增加而增加。我们通过利用 1992 年至 2011 年间在美国运行的续集人口来测试我们的理论猜想。实证结果表明了所提议框架的解释力。电影高管可以利用我们的发现来提高续集制作的盈利能力。从理论的角度来看，消费资本理论允许对不同维度的续集表现进行更精细的分析。而且，