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Efficient contracting under the U.S. copyright termination law

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  • Karas, Michael
  • Kirstein, Roland

Abstract

The American copyright act from 1976 has drawn much attention in the literature, however it has received little consideration by economists. We contribute to this literature by taking up the assumption that publishers may internalize the harm from termination decisions and illuminate the consequences for the contractual relationship between authors and publishers.

Suggested Citation

  • Karas, Michael & Kirstein, Roland, 2018. "Efficient contracting under the U.S. copyright termination law," International Review of Law and Economics, Elsevier, vol. 54(C), pages 39-48.
    • Handle: RePEc:eee:irlaec:v:54:y:2018:i:c:p:39-48
    DOI: 10.1016/j.irle.2017.10.003
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    References listed on IDEAS

    as
    1. Martin, Donald L, 1977. "The Economics of Employment Termination Rights," Journal of Law and Economics, University of Chicago Press, vol. 20(1), pages 187-204, April.
    2. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
    3. Williamson, Oliver E, 1979. "Transaction-Cost Economics: The Governance of Contractural Relations," Journal of Law and Economics, University of Chicago Press, vol. 22(2), pages 233-261, October.
    4. Zentner, Alejandro, 2006. "Measuring the Effect of File Sharing on Music Purchases," Journal of Law and Economics, University of Chicago Press, vol. 49(1), pages 63-90, April.
    5. Karp, Larry S. & Perloff, Jeffery M., 1993. "Legal requirements that artists receive resale royalties," International Review of Law and Economics, Elsevier, vol. 13(2), pages 163-177, June.
    6. Greg Hallman & Jay C. Hartzell & Christopher A. Parsons, 2011. "Incentive Compensation and the Likelihood of Termination: Theory and Evidence from Real Estate Organizations," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 39(3), pages 507-546, September.
    7. Stiglitz, Joseph E & Weiss, Andrew, 1983. "Incentive Effects of Terminations: Applications to the Credit and Labor Markets," American Economic Review, American Economic Association, vol. 73(5), pages 912-927, December.
    8. Gayer, Amit & Shy, Oz, 2006. "Publishers, artists, and copyright enforcement," Information Economics and Policy, Elsevier, vol. 18(4), pages 374-384, November.
    9. Brickley, James A & Dark, Frederick H & Weisbach, Michael S, 1991. "The Economic Effects of Franchise Termination Laws," Journal of Law and Economics, University of Chicago Press, vol. 34(1), pages 101-132, April.
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    Keywords

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    JEL classification:

    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
    • L88 - Industrial Organization - - Industry Studies: Services - - - Government Policy
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature

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