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Art Fakes - What Fakes? An Economic View


Frey, Bruno S (1999). Art Fakes - What Fakes? An Economic View. Working paper series / Institute for Empirical Research in Economics No. 14, University of Zurich.

Abstract

"An economic analysis of fakes differs substantially from the legal and the art historic views which both tend to propose repressive policies against imitations. But there are large economic benefits from copying. In particular, the ""propagation effect"" yields utility to both consumers and creators of the original. In contrast, the harmful effects of fakes are small and are mitigated by emerging institutions (guarantees, sellers with reputation). The paper suggests ""art quotations"" (similar to academic quotations) as a beneficial solution to creators of originals and consumers. ""Art quotations"" are applicable to many art forms."

Abstract

"An economic analysis of fakes differs substantially from the legal and the art historic views which both tend to propose repressive policies against imitations. But there are large economic benefits from copying. In particular, the ""propagation effect"" yields utility to both consumers and creators of the original. In contrast, the harmful effects of fakes are small and are mitigated by emerging institutions (guarantees, sellers with reputation). The paper suggests ""art quotations"" (similar to academic quotations) as a beneficial solution to creators of originals and consumers. ""Art quotations"" are applicable to many art forms."

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Additional indexing

Item Type:Working Paper
Communities & Collections:03 Faculty of Economics > Department of Economics
Working Paper Series > Institute for Empirical Research in Economics (former)
Dewey Decimal Classification:330 Economics
Language:English
Date:July 1999
Deposited On:29 Nov 2011 19:45
Last Modified:12 Aug 2017 12:44
Series Name:Working paper series / Institute for Empirical Research in Economics
ISSN:1424-0459
Official URL:http://www.econ.uzh.ch/wp.html

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