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dc.contributor.authorEngel, Christophen
dc.contributor.authorKurschilgen, Michaelen
dc.date.accessioned2010-07-05-
dc.date.accessioned2010-08-18T11:11:46Z-
dc.date.available2010-08-18T11:11:46Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/38875-
dc.description.abstractThe market for copyrights is characterised by a highly skewed distribution of profits: very few movies, books and songs generate huge profits, whereas the great bulk barely manages to recover production cost. At the moment when the owner of intellectual property grants a licence ('ex ante'), neither party knows the true value of the traded commodity. A seemingly odd norm from German copyright law, the so-called bestseller provision, stipulates that the seller of a licence has a legally enforceable right to a bonus in case the work ('ex post') turns out a blockbuster. We experimentally explore the effect of the provision on market prices, on the number of deals struck and on perceived fairness. Our results show that the provision leads to lower prices for copyrights. More copyrights trade. The buyers perceive less ex-post unfairness.en
dc.language.isoengen
dc.publisher|aMax Planck Institute for Research on Collective Goods |cBonnen
dc.relation.ispartofseries|aPreprints of the Max Planck Institute for Research on Collective Goods |x2010,29en
dc.subject.jelC91en
dc.subject.jelD03en
dc.subject.jelK12en
dc.subject.ddc330en
dc.subject.keywordexperimenten
dc.subject.keywordfairnessen
dc.subject.keywordCopyrighten
dc.subject.keywordUncertaintyen
dc.subject.stwUrheberrechten
dc.subject.stwMedienökonomiken
dc.subject.stwPreisen
dc.subject.stwRisikoen
dc.subject.stwLizenzvergabeen
dc.subject.stwProvisionen
dc.subject.stwGerechtigkeiten
dc.subject.stwTesten
dc.subject.stwDeutschlanden
dc.titleFairness ex ante & ex post: The benefits of renegotiation in media markets-
dc.typeWorking Paperen
dc.identifier.ppn630545987en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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