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...

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...

In the traditional view of trademark law, a trademark serves its brand-identifying function. Consequently, marks which consumers actually use to identify the source of a product were allowed protection. James Hawes was the first commentator to assert that product scent merits trademark...

In the present essay we introduce the concept of macroculture as a complex of mutually supporting values, norms and beliefs in various areas of human activity, like religion, war, politics, sports etc. in a model. Then, we analyse how some macrocultures that are favorable or the...

In corporate restructuring under Chapter 11, an asset valuation is a central task for both legal and financial reasons. In the area of intangible assets, however, generally accepted accounting principles (GAAP) do not reflect internally-generated assets such as brands, trademarks, and other...

The INDICARE project – the Informed Dialogue about Consumer Acceptability of DRM Solutions in Europe – has been set up to raise awareness about consumer and user issues of Digital Rights Management (DRM) solutions. One of the main goals of the INDICARE project is to contribute to the...

This paper deals with the debate between “property” and “possession”, hosted by the Journal of Institutional Economics since early 2015. According to Hodgson, economists conflate these two terms involving important consequences on the discernment of the analysis and on the general scope...

Privatization in the Czech Republic was carried out under three programs: restitution, small privatization and large privatization. By far the most important privatization program in the Czech Republic was large-scale privatization that began in the spring of 1991. Large privatization allowed...

This paper provides a simple model of banking in the shadow of expropriation, which sheds light on the credit markets of XIIIth Century England and the economic reforms introduced by the Angevin Kings. We argue that the fear of expropriation induced bankers to liquidate loans early and reduced...