Der Richtlinienentwurf der EU-Kommission zur europaweiten Einführung eines Folgerechts auf Kunstwerke ist dazu gedacht, die öknomische Lage junger Künstler zu verbessern. Eine einfache preistheoretische Überlegung zeigt jedoch, daß dieses Ziel verfehlt werden dürfte. Außerdem analysiert...

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...

Der Beitrag zeigt die ökonomischen Wirkungen einer neuen EU-Richtlinie zur Einführung eines europaweiten Folgerechts auf. Das Lebenseinkommen junger, unbekannter Künstler dürfte eher sinken als steigen. Doch selbst wenn es steigen würde, wäre noch nicht sichergestellt, daß dies den NUtzen...

This introduction to Methodology in Private Law Theory: Between New Private Law and Rechtsdogmatik (Thilo Kuntz and Paul B. Miller, eds., Oxford University Press, forthcoming) provides a thematic overview methodological questions and positions taken in contemporary American and German private...

Although the pure economic loss rule has been remarkably durable in the common law, it suffers from a theoretical deficit. The rule has not been properly framed within the broader context of Anglo-American political economy. Any theory must recognize that the rule fundamentally deals with...

This article analyzes alternative rules for settling conflicts between right owner and a bona fide purchaser. The optimal rule, so it is argued, is the one which maximizes the expected value of the ownership right, given the risk of right violation. In order to maximize this value, one must seek...

This article argues that the Calabresi and Melamed's “Cathedral” framework of property rules, liability rules, and inalienability rules needs to be extended using the tools of complex systems theory in order to capture important institutional features of the law. As an applied field, law and...

From a law-and-economics perspective the primary goal of (legal) remedies is to enhance social welfare by minimising social costs. Remedies help to achieve cost internalisation since they provide means by which third parties who are negatively affected by the respective action are entitled to...

This paper provides a brief review of the law and economics of Copyright Law and Copyright Exceptions, Limitations, and Immunities. Copyright law requires the creator's consent to copy, publish, convey, transfer or profit from their original work. Copyright exceptions are legal limitations on...