"This is all trending into a completely different topic, namely agent failures and market failures in Hollywood. Movies routinely fail to make money due to lousy scripts, but this doesn't cause Hollywood to routinely pay more for better scripts."
Your analysis here is completely off. It is probably true what you say about locks in distribution and taste, but that is somewhat irrelevant, or at least not causing the continued use of bad scripts.
The real reason is that the market is working perfectly; it's just that it is and always will be ... (read more)
Eliezer,
"This is all trending into a completely different topic, namely agent failures and market failures in Hollywood. Movies routinely fail to make money due to lousy scripts, but this doesn't cause Hollywood to routinely pay more for better scripts."
Your analysis here is completely off. It is probably true what you say about locks in distribution and taste, but that is somewhat irrelevant, or at least not causing the continued use of bad scripts.
The real reason is that the market is working perfectly; it's just that it is and always will be ... (read more)