An Economic Analysis of the Droit de Suite
AbstractThe droit de suite, or resale royalty right, entitles an artist to a percentage of either the price received when her works are resold by their owners. This paper analyzes the effect of this law on the artist's production when early and late works are either substitutes or complements. By giving the artist an interest in the resale price of early works, the royalty provides a credible incentive to maintain value when later production decisions are made. Since the initial sales price capitalizes the stream of future values, the benefit of higher resale prices accrues to the artist. Copyright Kluwer Academic Publishers 1998
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Springer in its journal Journal of Cultural Economics.
Volume (Year): 22 (1998)
Issue (Month): 4 (December)
Contact details of provider:
Web page: http://www.springerlink.com/link.asp?id=100284
art and law; durable goods; resale; royalties;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Nancy L. Stokey, 1981. "Rational Expectations and Durable Goods Pricing," Bell Journal of Economics, The RAND Corporation, vol. 12(1), pages 112-128, Spring.
- Filer, Randall K, 1986. "The "Starving Artist"-Myth or Reality? Earnings of Artists in the United States," Journal of Political Economy, University of Chicago Press, vol. 94(1), pages 56-75, February.
- Malueg, David A & Solow, John L, 1989. "A Note on Welfare in the Durable-Goods Monopoly," Economica, London School of Economics and Political Science, vol. 56(224), pages 523-27, November.
- Coase, Ronald H, 1972. "Durability and Monopoly," Journal of Law and Economics, University of Chicago Press, vol. 15(1), pages 143-49, April.
- Karp, Larry & Perloff, Jeffrey M, 1992.
"Legal Requirements that Artists Receive Resale Royalties,"
Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series
qt33f9k5bw, Department of Agricultural & Resource Economics, UC Berkeley.
- Karp, Larry S. & Perloff, Jeffery M., 1993. "Legal requirements that artists receive resale royalties," International Review of Law and Economics, Elsevier, vol. 13(2), pages 163-177, June.
- Baumol, William J, 1986. "Unnatural Value: Or Art Investment as Floating Crap Game," American Economic Review, American Economic Association, vol. 76(2), pages 10-14, May.
- Kahn, Charles M, 1986. "The Durable Goods Monopolist and Consistency with Increasing Costs," Econometrica, Econometric Society, vol. 54(2), pages 275-94, March.
- Banternghansa, Chanont & Graddy, Kathryn, 2009.
"The Impact of the Droit de Suite in the UK: An Empirical Analysis,"
CEPR Discussion Papers
7136, C.E.P.R. Discussion Papers.
- Chanont Banternghansa & Kathryn Graddy, 2011. "The impact of the Droit de Suite in the UK: an empirical analysis," Journal of Cultural Economics, Springer, vol. 35(2), pages 81-100, May.
- Bronwyn Coate & Tim R.L. Fry, 2012. "Better off Dead? Prices Realised for Australian Paintings Sold at Auction," ACEI Working Paper Series AWP-02-2012, the Association for Cultural Economics International, revised Feb 2012.
- Henry Hansmann & Marina Santilli, 2001. "Royalties for Artists versus Royalties for Authors and Composers," Journal of Cultural Economics, Springer, vol. 25(4), pages 259-281, November.
- Michael Rushton, 2001. "The Law and Economics of Artists' Inalienable Rights," Journal of Cultural Economics, Springer, vol. 25(4), pages 243-257, November.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.