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The Economics of Books

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Author Info

  • Canoy, M.F.M.
  • Ours, J.C. van
  • Ploeg, F. van der

    (Tilburg University, Center for Economic Research)

Abstract

The tensions between books and book markets as expressions of culture and books as products in profit-making businesses are analysed and insights from the theory of industrial organisation are given.Governments intervene in the market for books through laws concerning prices of books, grants for authors and publishers, a lower value-added tax, public libraries and education in order to stimulate the diversity of books on offer, increase the density of retail outlets and to promote reading.An overview of the different ways by which countries differ in terms of market structures and government policies is given. Particular attention is paid to retail price maintenance.Due to differences between European countries it is not a good idea to harmonise European book policies.Our analysis suggests that the book market seems quite able to invent solutions to specific problems of the book trade and that, apart from promoting reading, there is little need for government intervention.

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Bibliographic Info

Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2005-13.

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Date of creation: 2005
Date of revision:
Handle: RePEc:dgr:kubcen:200513

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Web page: http://center.uvt.nl

Related research

Keywords: books; publishers; authors; diversity; monopolistic competition; retail price maintenance; subsidies; libraries; Internet;

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References

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  1. Chr. Hjorth-Andersen, 2000. "A Model of the Danish Book Market," Journal of Cultural Economics, Springer, vol. 24(1), pages 27-43, February.
  2. Robert J. Barro & Jong-Wha Lee, 2000. "International Data on Educational Attainment Updates and Implications," NBER Working Papers 7911, National Bureau of Economic Research, Inc.
  3. François Ecalle, 1988. "Une évaluation de la loi du 10 août 1981 relative au prix du livre," Économie et Prévision, Programme National Persée, vol. 86(5), pages 17-49.
  4. Howard P. Marvel & Stephen McCafferty, 1984. "Resale Price Maintenance and Quality Certification," RAND Journal of Economics, The RAND Corporation, vol. 15(3), pages 346-359, Autumn.
  5. Rosen, Sherwin, 1981. "The Economics of Superstars," American Economic Review, American Economic Association, vol. 71(5), pages 845-58, December.
  6. Holahan, William L., 1979. "A theoretical analysis of resale price maintenance," Journal of Economic Theory, Elsevier, vol. 21(3), pages 411-420, December.
  7. Deneckere, Raymond & Marvel, Howard P & Peck, James, 1997. "Demand Uncertainty and Price Maintenance: Markdowns as Destructive Competition," American Economic Review, American Economic Association, vol. 87(4), pages 619-41, September.
  8. van der Ploeg, Frederick, 2006. "The Making of Cultural Policy: A European Perspective," Handbook of the Economics of Art and Culture, Elsevier.
  9. Ottaviano, G.I.P. & Thisse, J.-F., 1999. "Monopolistic Competition, Multiproduct Firms and Optimum Product Diversity," Economics Working Papers eco99/31, European University Institute.
  10. Frank Mathewson & Ralph Winter, 1998. "The Law and Economics of Resale Price Maintenance," Review of Industrial Organization, Springer, vol. 13(1), pages 57-84, April.
  11. Dixit, Avinash K & Stiglitz, Joseph E, 1977. "Monopolistic Competition and Optimum Product Diversity," American Economic Review, American Economic Association, vol. 67(3), pages 297-308, June.
  12. Throsby,David, 2000. "Economics and Culture," Cambridge Books, Cambridge University Press, number 9780521586399, October.
  13. Salop, Steven & Stiglitz, Joseph E, 1977. "Bargains and Ripoffs: A Model of Monopolistically Competitive Price Dispersion," Review of Economic Studies, Wiley Blackwell, vol. 44(3), pages 493-510, October.
  14. Austan Goolsbee & Judith Chevalier, 2002. "Measuring Prices and Price Competition Online: Amazon and Barnes and Noble," NBER Working Papers 9085, National Bureau of Economic Research, Inc.
  15. Simon Latcovich & Howard Smith, 2001. "Pricing, Sunk Costs, and Market Structure Online: Evidence from," Oxford Review of Economic Policy, Oxford University Press, vol. 17(2), pages 217-234, Summer.
  16. Clerides, Sofronis K., 2002. "Book value: intertemporal pricing and quality discrimination in the US market for books," International Journal of Industrial Organization, Elsevier, vol. 20(10), pages 1385-1408, December.
  17. Akerlof, George A, 1970. "The Market for 'Lemons': Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, MIT Press, vol. 84(3), pages 488-500, August.
  18. Landes, William M & Posner, Richard A, 1989. "An Economic Analysis of Copyright Law," The Journal of Legal Studies, University of Chicago Press, vol. 18(2), pages 325-63, June.
  19. Ours, J. C. van, 1990. "Nederlandse boekenmarkt tussen stabiliteit en verandering," Open Access publications from Tilburg University urn:nbn:nl:ui:12-153370, Tilburg University.
  20. Frederick van der Ploeg, 2003. "Beyond the Dogma of the Fixed Book Price Agreement," CESifo Working Paper Series 949, CESifo Group Munich.
  21. Yetkiner, I. Hakan & Horvath, Csilla, 2000. "Macroeconomic implications of virtual shopping : a theoretical approach," CCSO Working Papers 200004, University of Groningen, CCSO Centre for Economic Research.
  22. Foster, James E. & Horowitz, Andrew W., 1996. "Complimentarily yours: Free examination copies and textbook prices," International Journal of Industrial Organization, Elsevier, vol. 14(1), pages 85-99.
  23. repec:fth:louvco:9919 is not listed on IDEAS
  24. S. Bertarelli & R. Censolo, 2000. "Preference for Novelty and Price Behaviour," Working Papers 383, Dipartimento Scienze Economiche, Universita' di Bologna.
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Citations

Blog mentions

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  1. Ali naj država rešuje Revijo 2000?
    by andee in V krizi smisla tiči misel on 2010-06-18 22:13:15
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Cited by:
  1. Villarroya, Anna & Escardíbul, Josep-Oriol, 2010. "La demanda de libros y publicaciones periódicas en España/The Demand for Books and Periodicals in Spain," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 28, pages 195 (22 pá, Abril.
  2. Kalb, G. & Ours, J.C. van, 2013. "Reading to Young Children: A Head-Start in Life?," Discussion Paper 2013-029, Tilburg University, Center for Economic Research.
  3. Edoardo Gaffeo & Antonello E. Scorci & Laura Vici, 2008. "Demand Distribution Dynamics in Creative Industries: the Market for Books in Italy," Department of Economics Working Papers 0804, Department of Economics, University of Trento, Italia.
  4. Ours, J.C. van, 2006. "Children Reading Fiction Books Because They Want To," Discussion Paper 2006-3, Tilburg University, Center for Economic Research.
  5. John Ashworth & Bruno Heyndels & Kristien Werck, 2010. "Expert judgements and the demand for novels in Flanders," Journal of Cultural Economics, Springer, vol. 34(3), pages 197-218, August.
  6. Perona, Mathieu, 2009. "Bookshop, blockbusters and readers’ tastes: a new appraisal of the fixed book price," MPRA Paper 17857, University Library of Munich, Germany.
  7. Fernández Blanco, Víctor & Prieto Rodríguez,Juan, 2009. "Análisis de los hábitos de lectura como una decisión económica/," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 27, pages 113-138, Abril.
  8. Pérona, Mathieu & Pouyet, Jérôme, 2010. "Le prix unique du livre à l'heure numérique," Opuscules du CEPREMAP, CEPREMAP, number 19, May.
  9. repec:pra:mprapa:40306 is not listed on IDEAS
  10. Juan Jiménez & Javier Campos, 2010. "Modelling Competition in the Textbook Market: Some Lessons still to Learn," Journal of Industry, Competition and Trade, Springer, vol. 10(1), pages 71-85, March.
  11. Jonathan Beck, 2007. "The sales effect of word of mouth: a model for creative goods and estimates for novels," Journal of Cultural Economics, Springer, vol. 31(1), pages 5-23, March.
  12. van Ours, Jan C, 2006. "Children Reading Fiction Books Because They Want To," CEPR Discussion Papers 5472, C.E.P.R. Discussion Papers.
  13. Françoise Benhamou & Stéphanie Peltier, 2007. "How should cultural diversity be measured? An application using the French publishing industry," Journal of Cultural Economics, Springer, vol. 31(2), pages 85-107, June.

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