states. The lifetime income of young, unknwon artists is likely to shrink, despite the intention of the EU to increase their … utility of the artists increases as well: due to the law of diminishing returns of money, the lifetime utility can be …

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 …

situation of young artists. A simple price theoretical argument shows that this goal is not likely to be reached. In addition to …