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Royalties for Artists Versus Royalties for Authors and Composers

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  • Henry Hansmann

    (Yale Law School)

Abstract

Legislation creating or reinforcing resale royalties for visual artists retains substantial political popularity, particularly in the European Union -- despite the often skeptical attitude toward those rights in the economics literature. In this essay, we probe more deeply the affirmative arguments that can be made for a resale royalty right, in either a mandatory or a discretionary form. We also compare the rationale for visual artists' resale royalties with the potential rationales for the now-well-established systems of royalty rights for authors and composers. This comparison has particular interest both because some of the principal arguments made against visual artists' resale royalties also apply to authors' royalties, and because the economic rationale for compensating authors with royalties has itself not been well explored. We also discuss briefly the related subject of display rights for visual artists. We conclude with some general implications for policy.

Suggested Citation

  • Henry Hansmann, "undated". "Royalties for Artists Versus Royalties for Authors and Composers," Yale Law School John M. Olin Center for Studies in Law, Economics, and Public Policy Working Paper Series yale_lepp-1023, Yale Law School John M. Olin Center for Studies in Law, Economics, and Public Policy.
    • Handle: RePEc:bep:yaloln:yale_lepp-1023
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    1. John Solow, 1998. "An Economic Analysis of the Droit de Suite," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 22(4), pages 209-226, December.
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    Cited by:

    1. Ruth Towse, 2008. "Why has cultural economics ignored copyright?," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 32(4), pages 243-259, December.
    2. Benito ArruÒada, 2003. "Property Enforcement as Organized Consent," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 19(2), pages 401-444, October.
    3. Ruth Towse, 2006. "Copyright And Artists: A View From Cultural Economics," Journal of Economic Surveys, Wiley Blackwell, vol. 20(4), pages 567-585, September.
    4. Dari-Mattiacci, Giuseppe & Onderstal, Sander & Parisi, Francesco, 2021. "Asymmetric solutions to asymmetric information problems," International Review of Law and Economics, Elsevier, vol. 66(C).

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