Art Fakes - What Fakes? An Economic View
AbstractAn economic analysis of fakes differs substantially from the legal and the art historic views which both tend to propose repressive policies against imitations. But there are large economic benefits from copying. In particular, the "propagation effect" yields utility to both consumers and creators of the original. In contrast, the harmful effects of fakes are small and are mitigated by emerging institutions (guarantees, sellers with reputation). The paper suggests "art quotations" (similar to academic quotations) as a beneficial solution to creators of originals and consumers. "Art quotations" are applicable to many art forms.
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Bibliographic InfoPaper provided by Institute for Empirical Research in Economics - University of Zurich in its series IEW - Working Papers with number 014.
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Cultural Policy; art markets; art forgery; intellectual property rights; cultural industries;
Find related papers by JEL classification:
- Z1 - Other Special Topics - - Cultural Economics
- K11 - Law and Economics - - Basic Areas of Law - - - Property Law
- L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production
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