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Copyright for the Digital Age - A Call for Legislative Reversibility

  • Felix Oberholzer-Gee
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    Policymakers tend to adopt too narrow a view of the creative industries when determining the desirability of copyright protection. In these industries, authors will often create new works despite weak protection. As recent developments in the music industry illustrate, markets for complements alone can be sufficiently lucrative to entice artists to remain active even when copyright is seriously weakened. However, the value of complements is difficult to forecast. As a result, lawmakers will often set inappropriate copyright terms. In this note, I call for an approach to copyright legislation that makes it feasible to correct these unavoidable mistakes.

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    Article provided by Swiss Society of Economics and Statistics (SSES) in its journal Swiss Journal of Economics and Statistics.

    Volume (Year): 147 (2011)
    Issue (Month): IV (December)
    Pages: 417-425

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    Handle: RePEc:ses:arsjes:2011-iv-4
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    1. Alan B. Krueger, 2005. "The Economics of Real Superstars: The Market for Rock Concerts in the Material World," Journal of Labor Economics, University of Chicago Press, vol. 23(1), pages 1-30, January.
    2. 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.
    3. Rosen, Sherwin, 1981. "The Economics of Superstars," American Economic Review, American Economic Association, vol. 71(5), pages 845-58, December.
    4. Wagner, Alfred, 1891. "Marshall's Principles of Economics," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 5, pages 319-338.
    5. Joel Waldfogel, 2011. "Bye, Bye, Miss American Pie? The Supply of New Recorded Music Since Napster," NBER Working Papers 16882, National Bureau of Economic Research, Inc.
    6. Stan J. Liebowitz, 2008. "Research Note--Testing File Sharing's Impact on Music Album Sales in Cities," Management Science, INFORMS, vol. 54(4), pages 852-859, April.
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