Affiliation:
1. Department of Economics, Northeastern University, 304 Lake Hall, 360 Huntington Ave., Boston, MA 02115 (email: )
Abstract
Taking works off copyright promotes their availability, but it also allows generic entry to dissipate producer surplus. This paper examines the effect of a copyright on the availability and price of books when incentives to create new works are not affected. Evaluating the welfare impact of the 1998 Copyright Term Extension Act, I find that a copyright significantly limits the availability of works, leading to a decrease in consumer surplus, which is significantly larger than any increases in profits to copyright holders. Without changing incentives to create new content, the copyright extension was economically inefficient. (JEL L11, L17, L82, O34)
Publisher
American Economic Association
Subject
General Economics, Econometrics and Finance
Cited by
16 articles.
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