The three acts of a fragrance are not a naming convention invented by marketers. They are a physics event — the sequential departure of aromatic materials from the skin surface in order of their volatility, from the most volatile to the least. The formula does not change. The evaporation sequence is what you are smelling at each stage.
Volatility is the rate at which an aromatic substance evaporates at normal temperature into the air. In a perfume formula, every aromatic material has a different volatility — a different rate at which its molecules leave the skin surface and enter the air where they can be detected. The materials with the highest volatility — the lightest citrus compounds, the fresh aldehydes, the green herbaceous notes — evaporate first, producing the Act 1 opening impression. The materials with medium volatility — the floral heart compounds, the spice molecules, the soft resins — evaporate more slowly and become perceptible as the high-volatility layer departs, producing Act 2. The materials with the lowest volatility — the heavy wood compounds, the musks, the balsams and ambers — evaporate slowest of all, producing the Act 3 drydown that remains on skin for the final hours of the wear. The three-act structure is the evaporation curve made audible.

THE INSIGHT
The evaporation curve has a practical implication for evaluation: a formula assessed only at the first spray is assessed only at its most volatile and least representative phase. Act 1 lasts 15–30 minutes. Act 2 establishes over the following 1–2 hours. Act 3 — the drydown, the base, the part of the formula that will remain on your skin for the longest — is not accessible until hour 3 at minimum. A formula selected on the basis of its Act 1 opening has been selected on the basis of the least durable and least characteristic part of its identity. A formula selected on the basis of its Act 3 drydown has been selected on the basis of the part of it that will define your experience for most of the day.
TAKEAWAY
Allow a minimum of 4 hours before making a quality or selection judgement on any formula. At 4 hours, Act 2 is complete and Act 3 is established. The formula you are smelling at hour 4 is the formula you will be wearing for the remainder of the day. This is the version that deserves evaluation. The Act 1 opening is the introduction. Act 3 is the signature.