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fondazione ente dello spettacolo
tertio millennio film fest
» Report 2008
Chapter 2 - The enlargement of the sector
Information Asymmetries
The difficulties are indeed more severe that at first glance. Just as it is true that within the cinema sector much discussion is given to the content and quality of the film products of major success as specific factors in the laws of the market, it is similarly certain that the lack of information has, in general, concrete consequences on that which economists define as market efficiency which, in substance, concerns the best possible use of available resources. Moreover, beyond altering the correct functioning of the market the information asymmetries (qualified as the uneven distribution of knowledge concerning the trends and composition of the sector) and, even more so, the total lack of information both also have important consequences on the competitive structure and on the measures of industrial and cultural policy that are otherwise adopted in a context of “poor visibility”.
In the first case the uneven distribution of information has, as a consequence, a limitation on the capacity to enter into competition for anyone structurally more “limited” in operational choices, precluding in part or altogether the commercial results from companies which, regardless, remain efficient in their production but which lack an adequate prospective for decision making in a completely rational fashion. Such a situation favours the dominant operators that, thanks to the possession of both greater and better knowledge are able to operate on the market in an easier, more binding and, as a consequence, more stable fashion – a fact often lamented within the cinema environment.
On the other hand, the absence of a clear reference frame also has negative repercussions on the possible normative measures that a government may adopt to stimulate the attainment of specific targets or to promote the development of a given sector.


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