Rather than tolerating piracy or increasing sanctions, an artist can release his product directly to consumers by allowing them to download it under a ‘pay-what-you-want’ online strategy. We show analytically that this strategy can (1) be more profitable than a strategy with perfect or...

Thanks to an intertemporal analytical model, we incorporate aspirational consumers in Veblen markets for luxury fashion items. We show how a luxury monopolist can increase its profits thanks to the presence of counterfeit products. The genuine producer profit is shaped by two opposite effects:...