Resource title

Do Artists Benefit from Resale Royalties? An Economic Analysis of a New EU Directive

Resource image

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Resource description

According to a new European Union directive, artists, whose works are resold, are entitled to a share of the sales price. The principal aim of this initiative is to let the artists participate in the economic success of their work. Our analysis shows that the new directive is most likely to place the artists in a worse economic position. The analysis of the relation between the artist and his dealer as an incentive compatible contract leads to further objections against the new EU directive. However, the paper also illustrates under which conditions a resale royalty is, at least, an incentive compatible contract.

Resource author

Roland Kirstein, Dieter Schmidtchen

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/23109

Resource license

Adapt according to the presented license agreement and reference the original author.