The Unexpected Blockbuster Effect

Every few years, a book or series of books comes out that sells a bazillion copies more than anyone expected it to. Examples include The Lord of the Rings, the Harry Potter books, The Girl With the Dragon Tattoo, and Twilight. (The key here is “more than anyone expected” – Stephen King’s books sell in huge numbers, but that’s been considered normal for him ever since Carrie.)

An unexpected blockbuster nearly always has two major effects on the book market, one on editors and the other on writ...