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Copyright: When Is Monopoly Efficient?
Journal of Policy Analysis and Management
Vol. 4, No. 3 (Spring, 1985), pp. 407-418
Published by: Wiley on behalf of Association for Public Policy Analysis and Management
Stable URL: http://www.jstor.org/stable/3324194
Page Count: 12
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Many goods and services are thought to be most efficiently provided under monopoly or oligopoly conditions. For instance, copyright is generally deemed of great value to authors, artists, and the public, an essential element to an efficient market in intellectual and artistic creation. Yet, evidence suggests this esteem may not be entirely justified. Copyright for a particular medium is valuable to the author or to society only when certain economic and technological conditions obtain--such as a market for subsidiary uses, a high fixed cost of copying, and a market for copies.
Journal of Policy Analysis and Management © 1985 Wiley