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Vol 21 No 11 Nov/Dec 2016

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Copyright and Economic Theory

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Richard WattAssociate Professor of Economic Theory, Autonomous University of Madrid, Spain

ISBN13: 9781840643121
ISBN: 1840643129
Published: April 2002
Publisher: Edward Elgar Publishing Limited
Format: Hardback
Price: £79.00



In the past, economists have not always been able to agree on the idea that copyright is an efficient way of protecting cultural intellectual property. Indeed, many economists argue that copyright is not even necessary. In ""Copyright and Economic Theory"" a rigorously extensive yet simplified economic theory of copyright piracy is presented, and used to analyze important aspects of intellectual property transactions including the royalty contact, optimal copyright law and copyright collectives. The author also analyzes important areas of discussion in copyright, such as how can it be that a certain degree of privacy is beneficial, not only socially, but also for copyright holders and producers of originals? Are linear royalty contracts optimal? How many copyright collectives should a given economy have? Would a copyright collective prefer to act as a leader to a follower in a Stackelberg duopoly?;The book analyzes and contrasts existing theories concerning the economic theory of copyright, and presents a simple economic model in which copyright can be effectively studied, considering all principal areas of interest in copyright. This book should be useful reading for academics in economics, law and industrial organization as well as legal professionals including lawyers, copyright collectives and relevant governmental organizations.

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Contents:
Part 1 Introduction: some basic definitions and terminology; the simple economics of copyright; economics and the law; a very short history of the origins of copyright; focus and structure of the book.
Part 2 The economics of copyright piracy: three closely related areas; the economic theory of copying; the economic value of the costs of piracy; an economic model of copyright piracy -the perfect substitute case; self-protection strategies; when can piracy be favourable?; conclusions.
Part 3 The royalty contract: the optimal linear royalty; non-linear royalty contracts and risk sharing; conclusions.
Part 4 Unresolved issues in copyright law: copyright law and social optimality - introduction; should copyright law exist? the early literature; formal economic models of copyright law; other aspects of copyright law; conclusions.
Part 5 An equilibrium analysis of copyright law: optimal copyright in the piracy model; conclusions.
Part 6 Copyright collectives: introductory concepts; copyright collectives and market power; competition among collectives; regulation of copyright collectives; conclusions.
Part 7 Shake hands and make up.