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The economic consequences of droit de suite in the European Union

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  • Victor Ginsburgh

Abstract

In the EU the author of an original artwork enjoys 'Droit de suite', a right to an economic interest in successive commercial sales of that work. This is intended to insure that artists benefit from successive 'exploitations' of their artwork. The ensuring royalty is a percentage of the sale price. It is argued that it worsens the position of contemporary artists, but dimishes trade in the tertiary art market, is detrimental to their position on the international art market for those states introducing it and is severely anti-redistributive. It dimishes purchaser's property rights, reducing the price of artworks. This most severely affects early career artists who value the ensuing marginal decreases in income most highly, but whose work has not yet reached the secondary market.
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Suggested Citation

  • Victor Ginsburgh, 2007. "The economic consequences of droit de suite in the European Union," ULB Institutional Repository 2013/13404, ULB -- Universite Libre de Bruxelles.
  • Handle: RePEc:ulb:ulbeco:2013/13404
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    References listed on IDEAS

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    1. Gary S. Becker & Nigel Tomes, 1994. "Human Capital and the Rise and Fall of Families," NBER Chapters,in: Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education (3rd Edition), pages 257-298 National Bureau of Economic Research, Inc.
    2. Bisin, Alberto & Verdier, Thierry, 2001. "The Economics of Cultural Transmission and the Dynamics of Preferences," Journal of Economic Theory, Elsevier, vol. 97(2), pages 298-319, April.
    3. Costas Azariadis & Allan Drazen, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, Oxford University Press, vol. 105(2), pages 501-526.
    4. Stigler, George J & Becker, Gary S, 1977. "De Gustibus Non Est Disputandum," American Economic Review, American Economic Association, vol. 67(2), pages 76-90, March.
    5. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    Cited by:

    1. Chanont Banternghansa & Kathryn Graddy, 2011. "The impact of the Droit de Suite in the UK: an empirical analysis," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 35(2), pages 81-100, May.
    2. Elisabetta Lazzaro & Nathalie Moureau, 2013. "Auctioneers vs. commissaires-priseurs: The carnival mirror of profession regulation in the international art market," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 10(2), pages 159-176, August.
    3. Richard Watt, 2014. "Copyright in visual art markets: some economic theory concerning resale royalties and other options," Chapters,in: Handbook on the Economics of Copyright, chapter 18, pages 328-342 Edward Elgar Publishing.
    4. Anne LAYNE-FARRAR & Gerard LLOBET & Jorge PADILLA, 2014. "Patent Licensing in Vertically Disaggregated Industries: The Royalty Allocation Neutrality Principle," Communications & Strategies, IDATE, Com&Strat dept., vol. 1(95), pages 61-84, 3rd quart.

    More about this item

    JEL classification:

    • 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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