God is in the detail: intellectual property in light of cultural economics

Christian Handke

Chapter 12 in Handbook of Innovation and Intellectual Property Rights, 2024, pp 191-205 from Edward Elgar Publishing

Abstract: Copyright is the pivotal type of intellectual property in cultural and creative industries (CCI). It affects the transformation of CCI with digitalization, and how other industries can draw on creative works. The basic economic rationale for copyright has hardly changed for decades. Nonetheless, it is difficult to pinpoint adequate aspects of economic theory to arrive at valid predictions and adequate normative assessments regarding copyright policy in the context of technological change. To rise to that challenge, this chapter draws on the specialized literature of cultural economics. It discusses how idiosyncratic economic characteristics of the CCI (for instance taste for variety, option value, and intrinsic motivation) bear on the economic rationale for various aspects of copyright systems. For illustration, we discuss copyright-related challenges regarding crowdfunding, subscription platforms, and generative artificial intelligence. Overall, the chapter demonstrates that cultural economics provides a valuable framework for better understanding the association between IP and innovation.

Keywords: Business and Management; Economics and Finance; Innovations and Technology; Law - Academic (search for similar items in EconPapers)
Date: 2024
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