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An Economic Analysis of the Droit de Suite

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  • Solow, J.

    ()
    (University of Iowa)

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    Abstract

    The 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.

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    File URL: http://www.biz.uiowa.edu/econ/papers/uia/ARTLAW3.PDF
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    Bibliographic Info

    Paper provided by University of Iowa, Department of Economics in its series Working Papers with number 91-14.

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    Length: 31 pages
    Date of creation: 1991
    Date of revision:
    Handle: RePEc:uia:iowaec:91-14

    Contact details of provider:
    Postal: University of Iowa, Department of Economics, Henry B. Tippie College of Business, Iowa City, Iowa 52242
    Phone: (319) 335-0829
    Fax: (319) 335-1956
    Web page: http://tippie.uiowa.edu/economics/
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    Related research

    Keywords: art and law; durable goods; resale; royalties;

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    1. 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.
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