Graduation Year

2024

Date of Submission

4-2024

Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts

Department

Economics

Reader 1

Serkan Ozbeklik

Rights Information

© 2024 Yunzhi Cheng

Abstract

The Tony Awards is the most important award for the live commercial theater industry. It recognizes the best productions, individuals, and designs every year. It is considered a very important metric of evaluating artistic success of a production, but the quantified magnitude of how it affects the economic aspect remains unclear. This thesis used data on Broadway box office sales from 2010 to 2023 and implemented a Differences-in-differences design to evaluate how winning a “Best Musical” or “Best Revival Musical” Award impacts price per ticket before and after the announcement of the award. Results show that there is a positive and significant relationship, and it affects new productions more drastically compared to revival productions. The results reinforced understanding of the impact of creative arts awards and their influence on experience goods.

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This thesis is restricted to the Claremont Colleges current faculty, students, and staff.

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