Overlapped block motion compensation or B-frames are examples of multihypot
hesis motion compensation where several motion-compensated signals are supe
rimposed to reduce the bit-rate of a video codec, This paper extends the wi
de-sense stationary theory of motion-compensated prediction (MCP) for hybri
d video codecs to multihypothesis motion compensation. The power spectrum o
f the prediction error is related to the displacement error probability den
sity functions (pdf's) of an arbitrary number of hypotheses in a closed-for
m expression. We then study the influence of motion compensation accuracy o
n the efficiency of multihypothesis motion compensation as well as the infl
uence of the residual noise level and the gain from optimal combination of
N hypotheses. For the noise-free limiting case, doubling the number of (equ
ally good) hypotheses can yield a gain of up to 1/2 bits/sample, while doub
ling the accuracy of motion compensation (such as going from integer-pal to
1/2-pel accuracy) can additionally reduce the bit-rate by up to 1 bit/samp
le independent of N. For realistic noise levels, it is shown that the intro
duction of B-frames or overlapped block motion compensation can provide lar
ger gains than doubling motion compensation accuracy. Spatial filtering of
the motion-compensated candidate signals becomes less important if more hyp
otheses are combined. The critical accuracy beyond which the gain due to mo
re accurate motion compensation is small moves to larger displacement error
variances with increasing noise and increasing number of hypotheses N. Hen
ce, sub-pet accurate motion compensation becomes less important with multih
ypothesis MCP. The theoretical insights are confirmed by experimental resul
ts for overlapped block motion compensation, B-frames, and multiframe motio
n-compensated prediction with up to eight hypotheses from ten previous fram
es.