Purpose: The Arrow–Pratt approximation to the risk premium is only valid for small risks. In this paper we consider a second approximation, based on risk-neutral probabilities and which requires no greater information than the Arrow–Pratt approximation, that works well for both small and...

Featuring expert contributors from around the world, this book offers insight into the vital theoretical and practical aspects of the economics of copyright. Topics discussed include fair use, performers' rights, copyright and trade, online music streaming, internet piracy, copyright and visual...

It is widely recognised that many copyright issues are also economic issues. As a result the level of interest in the economics of copyright continues to grow. This carefully edited book presents a selection of the most important recent contributions to a wide range of economic topics on...