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The time limit on copyright: an unlikely tragedy of the intellectual commons

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  • Maxime Lambrecht

    (Université catholique de Louvain
    Institut d’Etudes Politiques de Paris, Ecole de droit)

Abstract

With their “tragedy of the commons” paradigm for intellectual property, Landes and Posner argue that the most important benefit of intellectual property rights is not that they generate incentives to create new works, but that they ensure the efficient exploitation of existing intellectual works. This alternative economic case for IP notably relies on the argument that allowing the copyright on certain massively popular works to expire could lead to their overexploitation, generating negative externalities similar to congestion externalities. This article will assess in detail the plausibility of this effect, by reviewing its most plausible interpretations: a boredom effect, a “blurring” or “tarnishment” effect, a snob effect, or a decrease in product diversity. I will argue that while Landes and Posner’s argument is ultimately inconclusive and unverified by the current state of empirical research, it also raises greater challenges than has usually been thought. Moreover, taking their argument seriously can also contribute to a better understanding of the purposes and limits of an intellectual property regime.

Suggested Citation

  • Maxime Lambrecht, 2017. "The time limit on copyright: an unlikely tragedy of the intellectual commons," European Journal of Law and Economics, Springer, vol. 43(3), pages 475-494, June.
  • Handle: RePEc:kap:ejlwec:v:43:y:2017:i:3:d:10.1007_s10657-016-9538-z
    DOI: 10.1007/s10657-016-9538-z
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    References listed on IDEAS

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    More about this item

    Keywords

    Intellectual property; Copyright extension; Richard Posner; Indefinitely renewable copyright; Tragedy of the commons; Congestion externalities; Overexploitation; Overgrazing; Blurring; Tarnishment;
    All these keywords.

    JEL classification:

    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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