IDEAS home Printed from https://ideas.repec.org/a/bla/perwir/v2y2001i1p15-29.html
   My bibliography  Save this article

“Money for Nothing”? Die Preisbildung von Originalkunstwerken und Kopien

Author

Listed:
  • Manfred Tietzel

Abstract

Quite a few economists hold the opinion that exorbitant prices paid for original works of art reflect an irrational cult made of unique pieces created by renowned artists; (close to) perfect copies would yield comparable benefits at a substantially lower price. The article gives reasons for the rationality of this seemingly irrational behavior and, among other things, explains the price difference between originals and their copies on a microeconomic basis.

Suggested Citation

  • Manfred Tietzel, 2001. "“Money for Nothing”? Die Preisbildung von Originalkunstwerken und Kopien," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 2(1), pages 15-29, February.
    • Handle: RePEc:bla:perwir:v:2:y:2001:i:1:p:15-29
    DOI: 10.1111/1468-2516.00029
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1468-2516.00029
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1468-2516.00029?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Benjamin J. Burton & Joyce P. Jacobsen, 1999. "Measuring Returns on Investments in Collectibles," Journal of Economic Perspectives, American Economic Association, vol. 13(4), pages 193-212, Fall.
    2. J. Cook Philip, 1986. "Social Behavior. Philip J. Cook, Choosing the Right Pond: Human Behavior and the Quest for Status, by Robert H. Frank. NY: Oxford University Press, 1985, 306pp. Price: $22.95 cloth," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 6(1), pages 117-118.
    3. Brenner, Reuven, 1986. "Choosing the right pond: Human behavior and the quest for status : Robert H. Frank, (Oxford University Press, Oxford, 1985) x+306 pp., $22.95," Journal of Economic Behavior & Organization, Elsevier, vol. 7(3), pages 334-336, September.
    4. Gene M. Grossman & Carl Shapiro, 1986. "Foreign Counterfeiting of Status Goods," NBER Working Papers 1915, National Bureau of Economic Research, Inc.
    5. Gene M. Grossman & Carl Shapiro, 1988. "Foreign Counterfeiting of Status Goods," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 103(1), pages 79-100.
    6. H. Leibenstein, 1950. "Bandwagon, Snob, and Veblen Effects in the Theory of Consumers' Demand," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 64(2), pages 183-207.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bardt Hubertus & Bardt Juliane, 2006. "Kunstunternehmer im Spannungsfeld zwischen Kunst und Marktwirtschaft / Art Entrepreneurs between Arts and Markets," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 57(1), pages 241-259, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Staake, Thorsten & Thiesse, Frédéric & Fleisch, Elgar, 2012. "Business strategies in the counterfeit market," Journal of Business Research, Elsevier, vol. 65(5), pages 658-665.
    2. Tin Cheuk Leung, 2013. "What Is the True Loss Due to Piracy? Evidence from Microsoft Office in Hong Kong," The Review of Economics and Statistics, MIT Press, vol. 95(3), pages 1018-1029, July.
    3. Bian, Qin & Forsythe, Sandra, 2012. "Purchase intention for luxury brands: A cross cultural comparison," Journal of Business Research, Elsevier, vol. 65(10), pages 1443-1451.
    4. Ornella Tarola & Jean Gabszewicz & Didier Laussel, 2011. "To Acquire, or To Compete? An Entry Dilemma," Journal of Industry, Competition and Trade, Springer, vol. 11(4), pages 369-383, December.
    5. Bate, Roger & Jin, Ginger Zhe & Mathur, Aparna, 2011. "Does price reveal poor-quality drugs? Evidence from 17 countries," Journal of Health Economics, Elsevier, vol. 30(6), pages 1150-1163.
    6. Marie Thursby & Richard Jensen & Jerry Thursby, 1991. "Smuggling, Camouflaging, and Market Structure," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(3), pages 789-814.
    7. Jen-Te Yao, 2005. "Counterfeiting and an Optimal Monitoring Policy," European Journal of Law and Economics, Springer, vol. 19(1), pages 95-114, January.
    8. Janeba, Eckhard, 2007. "International trade and consumption network externalities," European Economic Review, Elsevier, vol. 51(4), pages 781-803, May.
    9. Gurzki, Hannes & Woisetschläger, David M., 2017. "Mapping the luxury research landscape: A bibliometric citation analysis," Journal of Business Research, Elsevier, vol. 77(C), pages 147-166.
    10. Wilcock, Anne E. & Boys, Kathryn A., 2014. "Reduce product counterfeiting: An integrated approach," Business Horizons, Elsevier, vol. 57(2), pages 279-288.
    11. Bian, Xuemei & Moutinho, Luiz, 2009. "An investigation of determinants of counterfeit purchase consideration," Journal of Business Research, Elsevier, vol. 62(3), pages 368-378, March.
    12. Fav Lai & Shun-Chiao Chang, 2012. "Consumers’ choices, infringements and market competition," European Journal of Law and Economics, Springer, vol. 34(1), pages 77-103, August.
    13. Kapferer, Jean-Noël & Valette-Florence, Pierre, 2018. "The impact of brand penetration and awareness on luxury brand desirability:," Journal of Business Research, Elsevier, vol. 83(C), pages 38-50.
    14. Correia, Antónia & Kozak, Metin, 2016. "Tourists' shopping experiences at street markets: Cross-country research," Tourism Management, Elsevier, vol. 56(C), pages 85-95.
    15. Stokburger-Sauer, Nicola E. & Teichmann, Karin, 2013. "Is luxury just a female thing? The role of gender in luxury brand consumption," Journal of Business Research, Elsevier, vol. 66(7), pages 889-896.
    16. Ming-Fang Tsai & Jiunn-Rong Chiou, 2012. "Counterfeiting, enforcement and social welfare," Journal of Economics, Springer, vol. 107(1), pages 1-21, September.
    17. Jonas Häckner & Astri Muren, 2015. "Counterfeiting and Negative Consumption Externalities – A Closer Look," Journal of Industry, Competition and Trade, Springer, vol. 15(4), pages 337-350, December.
    18. Irena Vida, 2007. "Determinants of Consumer Willingness to Purchase Non-Deceptive Counterfeit Products and the European Union," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 5(3), pages 253-270.
    19. Mealem, Yosef & Yacobi, Yacov & Yaniv, Gideon, 2010. "Trademark infringement and optimal monitoring policy," Journal of Economics and Business, Elsevier, vol. 62(2), pages 116-128, March.
    20. Budzinski, Oliver & Monostori, Katalin & Pannicke, Julia, 2012. "Der Schutz geistiger Eigentumsrechte in der Welthandelsorganisation: Urheberrechte im TRIPS Abkommen und die digitale Herausforderung," Ilmenau Economics Discussion Papers 79, Ilmenau University of Technology, Institute of Economics.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:perwir:v:2:y:2001:i:1:p:15-29. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/vfsocea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.