Do Artists Benefit from Resale Royalties? An Economic Analysis of a New EU Directive
AbstractAccording to a new European Union directive, artists, whose works are resold, are entitled to a share of the sales price. The principal aim of this initiative is to let the artists participate in the economic success of their work. Our analysis shows that the new directive is most likely to place the artists in a worse economic position. The analysis of the relation between the artist and his dealer as an incentive compatible contract leads to further objections against the new EU directive. However, the paper also illustrates under which conditions a resale royalty is, at least, an incentive compatible contract. --
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Bibliographic InfoPaper provided by Saarland University, CSLE - Center for the Study of Law and Economics in its series CSLE Discussion Paper Series with number 2000-07.
Date of creation: 2000
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resale rights; droit de suite; Screening Skill; strategic complements;
Find related papers by JEL classification:
- K11 - Law and Economics - - Basic Areas of Law - - - Property Law
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- Coase, Ronald H, 1972. "Durability and Monopoly," Journal of Law and Economics, University of Chicago Press, University of Chicago Press, vol. 15(1), pages 143-49, April.
- Schmidtchen, Dieter & Koboldt, Christian & Kirstein, Roland, 1997. "Rechtsvereinheitlichung beim "droit de suite"? Ökonomische Analyse des Richtlinienentwurfs der Europäischen Kommission," CSLE Discussion Paper Series, Saarland University, CSLE - Center for the Study of Law and Economics 97-02, Saarland University, CSLE - Center for the Study of Law and Economics.
- Schmidtchen, Dieter, 2007. "Vereinheitlichung des Vertragsrechts in Europa - eine Lösung auf der Suche nach dem Problem? Die Sicht der Neuen Institutionenökonomik," CSLE Discussion Paper Series, Saarland University, CSLE - Center for the Study of Law and Economics 2007-01, Saarland University, CSLE - Center for the Study of Law and Economics.
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