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Forever Minus a Day? Some Theory and Empirics of Optimal Copyright

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Pollock, Rufus

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Abstract

The optimal level for copyright has been a matter for extensive debate over the last decade. This paper contributes several new results on this issue divided into two parts. In the first, a parsimonious theoretical model is used to prove several novel propositions about the optimal level of protection. Specifically, we demonstrate that (a) optimal copyright is likely to fall as the production costs of `originals' decline (for example as a result of digitization) and that (b) the optimal level of copyright will, in general, fall over time. The second part of the paper focuses on the specific case of copyright term. Using a simple model we characterise optimal term as a function of a few key parameters. We estimate this function using a combination of new and existing data on recordings and books and find an optimal term of around fifteen years. This is substantially shorter than any current copyright term and implies that existing copyright terms are too long.

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File URL: http://mpra.ub.uni-muenchen.de/5024/
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 5024.

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Date of creation: Feb 2007
Date of revision: 07 Aug 2007
Handle: RePEc:pra:mprapa:5024

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Related research
Keywords: Copyright Intellectual Property Copyright Term Technological Change

Other versions of this item:

Find related papers by JEL classification:
O34 - Economic Development, Technological Change, and Growth - - Technological Change - - - Intellectual Property Rights
O31 - Economic Development, Technological Change, and Growth - - Technological Change - - - Innovation and Invention: Processes and Incentives
L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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References listed on IDEAS
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.:
  1. Ivan Png, 2006. "Copyright: A Plea for Empirical Research," Levine's Working Paper Archive 321307000000000484, UCLA Department of Economics. [Downloadable!]
  2. Kai-Lung Hui & Ivan P.L. Png, 2002. "On the Supply of Creative Work: Evidence from the Movies," Law and Economics 0201002, EconWPA, revised 18 Jan 2002. [Downloadable!]
    Other versions:
  3. Felix Oberholzer-Gee & Koleman Strumpf, 2007. "The Effect of File Sharing on Record Sales: An Empirical Analysis," Journal of Political Economy, University of Chicago Press, vol. 115, pages 1-42. [Downloadable!] (restricted)
  4. Stan J. Liebowitz & Stephen E. Margolis, 2005. "Seventeen Famous Economists Weigh In On Copyright: The Role Of Theory, Empirics, And Network Effects," Law and Economics 0505003, EconWPA. [Downloadable!]
  5. Landes, William M & Posner, Richard A, 1989. "An Economic Analysis of Copyright Law," Journal of Legal Studies, University of Chicago Press, vol. 18(2), pages 325-63, June.
  6. Peitz, Martin & Waelbroeck, Patrick, 2006. "Why the music industry may gain from free downloading -- The role of sampling," International Journal of Industrial Organization, Elsevier, vol. 24(5), pages 907-913, September. [Downloadable!] (restricted)
  7. Judith A. Chevalier & Austan Goolsbee, 2002. "Measuring Prices and Price Competition Online: Amazon and Barnes and Noble," Yale School of Management Working Papers ysm290, Yale School of Management. [Downloadable!]
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  8. Liebowitz, S J, 1985. "Copying and Indirect Appropriability: Photocopying of Journals," Journal of Political Economy, University of Chicago Press, vol. 93(5), pages 945-57, October. [Downloadable!] (restricted)
  9. Ivan Png & Qiu-hong Wang, 2007. "Copyright Duration and the Supply of Creative Work," Levine's Working Paper Archive 321307000000000478, UCLA Department of Economics. [Downloadable!]
  10. Johnson, William R, 1985. "The Economics of Copying," Journal of Political Economy, University of Chicago Press, vol. 93(1), pages 158-74, February. [Downloadable!] (restricted)
  11. Novos, Ian E & Waldman, Michael, 1984. "The Effects of Increased Copyright Protection: An Analytic Approach," Journal of Political Economy, University of Chicago Press, vol. 92(2), pages 236-46, April. [Downloadable!] (restricted)
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