This paper surveys from an economic standpoint a number of important legal issues that influence the market for art, which include the creation, sale, valuation, maintenance and, in some instances, the destruction of works of art. We show that the important legal doctrines that bear on the...

Each year, the value of gray market products sold throughout the world runs into the billions of dollars. Past research has stated that exporters of manufactured goods can hardly afford to ignore the possibility of this phenomenon due to the often severe effects on their sales volume, margins,...