Fallon is the daughter of oil baron Blake Carrington and his first wife, Alexis, portrayed by John Forsythe and Joan Collins in the original series.

Initially a self-indulgent troublemaker constantly at odds with her father's second wife, Krystle (Linda Evans), Fallon navigates a series of romantic entanglements that includes marriages to Jeff Colby (John James) and his half-brother and cousin, Miles Colby (Maxwell Caulfield).Fallon is introduced in 1981 as a fiery heiress as intelligent and business savvy as her millionaire father Blake Carrington, but not taken seriously by him because she is a woman.

[1] With a place at the family company Denver-Carrington unavailable to her, Fallon instead indulges herself with multiple lovers and torturing her new stepmother Krystle (Linda Evans).

[1][2] David Hofstede described Martin's Fallon as "a spoiled bitch with an acid tongue whose idea of fun was to sleep with her father's chauffeur".

[4] Actor John James said of the relationship between Fallon and his character, her "loving-but-unloved" husband Jeff Colby, "There's an attraction there in two people who know they're wrong for each other".

[4] Alex Mar wrote for Slate: The idea of Fallon as a stifled modern woman had no place in the series once Joan Collins joined the cast.

[10] Executive producer Aaron Spelling wrote in his 1996 autobiography, "After three seasons, Pamela Sue Martin wanted to leave Dynasty to get married and we didn't stand in her way.

"[11] The role was later recast with British actress Emma Samms, and Fallon reappears with amnesia at the end of the fifth season in the April 1985 episode "Kidnapped".

[3] Samms, who had appeared in two episodes of Spelling's drama series Hotel in 1984 and 1985, met with Dynasty co-creator Esther Shapiro for a non-specific role, which led to her casting as Fallon.

"[12] Samms appeared in eight episodes of the sixth season of Dynasty, and the character was spun off onto a separate series called The Colbys.

So we created the character of [New York cop] Zorelli who came in to investigate the murder of Roger Grimes ... it brought her to a reality that the audience had not seen ...

As Dynasty begins, spoiled Carrington heiress Fallon is underestimated by—and considered little more than a trophy to—her father, oil baron Blake.

When Jeff learns that his marriage is just part of a business deal, he embarrasses Fallon by drunkenly broadcasting the details to a room full of party guests.

Fallon begins an affair with Dr. Nick Toscanni, and Krystle is thrown from a horse in "Viva Las Vegas" and loses her baby.

In the season finale, "Randall" decides to leave Los Angeles, telling a sympathetic police detective that she feels drawn to the mountains—perhaps Denver.

A patient Miles, also upset by his father's apparent extramarital love for Jeff's mother, finally explodes and forces himself on Fallon in "Thursday's Child".

In the season one finale "Checkmate", Fallon tells Jeff that she is pregnant, but is soon alarmed to realize that the baby may have been fathered by Miles during the rape.

[3] A 1985 article in The Hollywood Reporter criticized the recast, and a spokesman for the show told Redbook, "People have gotten hung up on the fact that Emma doesn't look anything like Pamela Sue.

[20] In the new Dynasty, Fallon meets—and immediately loathes—her billionaire father Blake's fiancée Cristal, a rival employee at the family company.

[23]Alexandra Jacobs of The New York Times noted that in the new series, "Fallon has been upgraded from a somewhat lost soul, climbing in and out of beds and winsomely up trees...to an ambitious businesswoman, still sleeping with the chauffeur but now also leaning in with a steely glare.

"[24] Gillies said, "I'm not playing Alexis but Fallon has inherited a lot of her gusto...She's less passive than at least Pamela Sue Martin was—she had a relaxed nature.

"[26] Ahead of season two, Executive producer Sallie Patrick said, "Pamela Sue Martin was fantastic on the original series, and I always loved her character, but at the same time there wasn’t much there [for her to do].

"[27] Gillies received the script for Dynasty while in the hospital having her appendix removed, and was offered the role of Fallon Carrington during her screen test.

"[28] In the premiere episode "I Hardly Recognized You", heiress Fallon Carrington is unhappy to find her billionaire father Blake engaged to Cristal Flores.

Exiled from the Carrington Thanksgiving celebration by Blake, Fallon appears at Michael's church congregation dinner and meets his parents in "A Taste of Your Own Medicine".

On the eve of the wedding, Fallon asks Michael to marry her at the city hall, but he refuses, not wanting something so important to be part of a Carrington plot.

Fallon soon discovers, however, that Alexis has not been living a life of luxury abroad, but is housed in a trailer nearby, and has stayed in touch with Steven.

Intending to publicly force her father to take responsibility for an environmental scandal he covered up, Fallon is dumbstruck when Blake announces her promotion to COO in Cristal's place.

"[30] Darren Franich of Entertainment Weekly noted that "Elizabeth Gillies channels [Joan] Collins' carnivorous ambition and Leighton Meester's imperial pout.

"[31] Hedy Phillips of Euphoria wrote, "Though the whole cast has come together to put a new spin on this campy classic, it's star Liz Gillies who has brought Fallon Carrington to life and made this reboot into something truly special.