Deborah C. Payne's ground-breaking study traces the historical origins of a dilemma still bedevilling theatre companies: how to reconcile audience demand for novelty with profitability. As a solution, English acting companies in 1660 adopted an unprecedented theatrical duopoly. Implicit to its economic logic were scarcity, prestige, and innovation: attributes that, it was hoped, would generate wealth and exclusivity. Changes to playhouse architecture, stagecraft, dramatic repertory, and company practices were undertaken to create this new, upmarket theatre of “great expences.” So powerful was the promise of the duopoly and so enthralling the wholesale transformation of the theatrical marketplace that management—despite dwindling box office—resisted change for 35 years. Drawing upon network and behavioural economic theory, Professor Payne shows why the acting companies clung to an economic model inimical to their self-interest. Original archival research further bolsters this radically new perspective on an exciting and crucial period in English theatre. This title is also available as Open Access on Cambridge Core.