Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/23109
Authors: 
Kirstein, Roland
Schmidtchen, Dieter
Year of Publication: 
2000
Series/Report no.: 
CSLE Discussion Paper 2000-07
Abstract: 
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.
Subjects: 
resale rights
droit de suite
Screening Skill
strategic complements
JEL: 
K11
Document Type: 
Working Paper

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