Pricing Pseudo Contingencies on Motion Picture Assets under No Free Lunch with Vanishing Risk

Motion picture derivatives have proved valuable in hedging financial risk of the movie industry. However, the existence of pseudo assets within certain category of movie contingencies makes market trading below capacity due to hyper level pricing arbitrage. This paper analyzes pseudo assets lying within movie contingencies and develops a stochastic pricing strategy under no arbitrage condition. Demonstration of the application of derived formulas is provided as examples and remarks over imposed effects sequel to sub pseudo contingencies. Accordingly, the results derived here are aids of assistance for movie investors relative to financing pseudo asset ventures for the purpose of valuation.


Introduction
Motion picture is a collection of film making institutions comprising production, screen writing, festivals, distribution and marketing companies. It is the biggest leisure industry in the universe and generally expensive to run. As a result, institutions within the industry connect with other industries for equipments, securities, marketing and so on. The largest movie markets by box office are the movie was in French.
The Koreans love not just English but American English. Korean surjection is passionate to Americanised English [5]. Thus, movies for Korean markets are mostly undubbed in Korean. The Arabs love Arabic and English simultaneously [6]. Arab's surjection is having both experiences simultaneously. Consequently, movies for Arab markets have subtitles that keep the original English title or literal translation (Arie Barak) and the Arabic subtitles. Herein Africa, movie customers are obsessed with voice over dubbing movies in the local languages with selected foreign episodes. In the African surjection, episodes and languages can influence movie market and finances. Be it may, global motion picture appear happy to add-on movies through localization to attract market and higher profit. Unfortunately, some pricing misfits exist with future market consequences.
In his 1964 book; "From Understanding Media" [7], describes the media as a powerful means of control since different cultures are represented verbally, visually and orally. This description implies that effective add-on modes as assets 1 Originated over 121 years ago. The earliest account of film in USA dates back to June 1894 in Richmond, Indiana by Charles Frances Jenkins. in movie media can contribute to reception and market. The "converse" suffices to justify why a hit movie production in a relevant market may go burst in another market. The book Nonlinear System Identification: by [8] posits the nonlinearity of languages rather than customary additive belief held in some quotas. In this connection, movies with add-on functions of subtitles, dubbings and voice overs can gain increasing market if embedded add-ons are necessary shifts of nonlinear movie spaces. They can be jewelries of global motion picture.
One way trading add-ons is positive to motion picture is realistic financing.
Movie markets in several spots round the globe trade add-ons (dubbings, subtitles, voice over, translations etc.) with little or no market value. Particular case is the sameness in price of the movie tyrant directed by Gideon Raff with or without add-ons. This price misfit holds for most movies of any wood. There are consequences for this mis-pricing act especially on investment capital. On records, add-on processes are not free lunches since resources are drained in the process.
Price insensitivity and mis-fits reflecting as zero add-on prices in movies can result only in market arbitrage [9]. As such, limiting market stability is near impossible a.s.
Moreover, investophobia sequel to risk tendencies capable of crunching movie markets with maximum impacts on movie driven economies is within premise.
Clearly, there is need to trade add-ons as contingencies for additional profit.
Generally, asset pricing are settled through trading in financial markets where prices of underlying assets sometimes tend to be volatile especially for unawared assets such as pseudo assets and derivatives portfolio. The eventual consequences like market inefficiency present severe negative implications on motion pictures [10].
Here, arbitrageurs manipulate the market to gain excess returns while real investors lost more than expected leading to deadweight loss [11]. Price informativeness often affects decision making in what is known as the feedback effect [12]. From an economic standpoint, unlawfulness is a disadvantage that repels future capital flow as investors prefer stable markets to unstable ones. Moreover, underpricing of pseudo movie assets has dire consequences on businesses including loss of profits, unemployment and eventual loss of investment resources.
Underpricing of assets is tricky as a long-term strategy in businesses in its inability to attain good profit margin since it requires constant ongoing and stream of high volume sales. The performance of businesses is contingent to its pricing strategy, therefore it is crucial to develop an efficient pricing extension for pseudo assets to ensure business attainability.

Literature Review
Add-oning is Herculean in the least so to speak. Darbeltnet's model presented in [13] divides translation strategies into direct and oblique 2 . Take the case of 2 Direct translation consists of borrowing, calque, and literal translation whereas oblique translation consists of transposition, modulation, adaptation and equivalence. Journal of Mathematical Finance add-oning a post war movie by functional equivalence. Though, functional equivalence trivially can differentiate language words, the star translator must decide which translates are known to general movie public for better market. The language system and the difference between source and target cultures [14] can make not just the enforcement of literal translations impossible but the need for caution for market reasons. In [15], movie voice is proposed to be distinct from artist's voice and movie tones be made monotonically continuous. This proposal makes add-oning above earth since time between semantic and style (difficult control procedures) can bounce a supposed-be hit movie. [16]'s example of semantic and stylistic losses on the Danish TV series Charlot and Charlotte for voice-over in Lithuanian suffices in this respect.
[3]'s message-body movements matching compounds the task of add-oning to the next level since voice isochrony requires translation-fitting. Though, [17]'s suggestion on invisibility and obtrusiveness principles helps in this regard, the voice artist must deliver the text speech systematically to reduce overall effects.
Besides, such manipulations under less adequate care create viewer illusions capable of bouncing a good movie in gross earnings. While in some quotas, movie bosses may argue that pricing add-ons will affect the art involved in producing great movies; this position does not financially add value to global motion picture in the least. As in the wall street journal of 29-30 April 2006, the idea of investing in motion picture has attracted hedge funds and money managers to the industry. Consequently, the future holds good for add-on commercialization since add-on prices increase profit margins a.s.
[18]'s coupling marketing actions and movie quality on box office performance is good for add-on pricing extensions. Again, [19]'s distribution forecasts and box office performance creates forecasting methodology for add-ons. Designed flow model with target subgroups makes it awesome to incorporate "at all cost" to carve a notch for add-on prices. [20]'s separable dependence of box office performance just after release could be re-modeled to include "add-ons with non-zero prices". Additional Data field of 1956 movies from 1985 to 1999 be extended in the neighborhood of year 2019 movie spectrum and the assumed consumer's utility to watch a movie incorporates "given n ∈ N -size add-ons with price p ∈ R ". More specifically, the utility consumer i receives from movie j on week t be transformed to somewhat

Basic Assumptions
We consider a compound 3 movie asset A in trade given by In view of (3), (6) and (7) have the representation that ( ) Note that the left hand sides of (8) and (9) are column matrices and multiplication is impossible implying that the U's do not exist and hence ( ) A θ is an arbitrage. For convenience, we choose the Ornstein-Uhlenbeck price path for ( ) , , X t A ω as a special case of (4) such that and provide arbitrage free pricing strategy for A as motivated in this work.

Results
Lemma 4.1 The arbitrage free price p for a pseudo-movie asset A with n independent sub-assets i A 's 1, 2, 3, , i n =  is given by where A is the space of assets such that for A ∈ A , we have with the condition that for any , ; Again, for i j k m = = = then Given (11), the integrating factor is with expected price p equals to ( ) ( ) 0, , e ; 0,1, 2,3, The lemma follows in view of (13) and (14) directly.
Intuitively, the price p in (16)

Conclusion
In this work, pricing movie industry pseudo assets and portfolio are studied. The work proved that pseudo assets trading in movie markets as add-ons present arbitrage opportunity capable of crunching movie markets. The work designed a stochastic pricing strategies under which such arbitrages can be eliminated. The process of eliminating pseudo asset arbitrage in movie pricing is demonstrated by means of examples for easy understanding. In conclusion, it is important to emphasize that for informed decisions on pseudo assets trading in movie markets, the knowledge of market type is significant. This provides some level of control over the hedging of portfolios to prevent pricing arbitrage and loss of investment resources.