I don't have experience with contracts (or the lack thereof) in Hollywood, and that's interesting to hear.
One guess is that it might be a relatively small community where the same people and companies do business with each other over and over. In a community like that, some of the jobs that contracts do in other industries might be done through norms and relationships.
I enjoyed "Why Trust Matters" by Ben Ho (https://www.amazon.com/Why-Trust-Matters-Economists-Guide/dp...) and it talked about a sweet spot where contracts shouldn't try to over or under-specify the deal in order to optimize for trust. I'm sure that some industries, like Hollywood, have less laid down in contracts than others.
If you're open to it, I'd love to hear more about how you've seen this work in Hollywood.
One guess is that it might be a relatively small community where the same people and companies do business with each other over and over. In a community like that, some of the jobs that contracts do in other industries might be done through norms and relationships.
I enjoyed "Why Trust Matters" by Ben Ho (https://www.amazon.com/Why-Trust-Matters-Economists-Guide/dp...) and it talked about a sweet spot where contracts shouldn't try to over or under-specify the deal in order to optimize for trust. I'm sure that some industries, like Hollywood, have less laid down in contracts than others.
If you're open to it, I'd love to hear more about how you've seen this work in Hollywood.