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Art Fakes - What Fakes?

18 Pages Posted: 3 Apr 2000  

Bruno S. Frey

CREMA; University of Basel

Abstract

An economic analysis of fakes differs substantially from the legal and the art historic views which both tend to propose repressive policies against imitations. But there are large economic benefits from copying. In particular, the "propagation effect" yields utility to both consumers and creators of the original. In contrast, the harmful effects of fakes are small and are mitigated by emerging institutions (guarantees, sellers with reputation). The paper suggests "art quotations" (similar to academic quotations) as a beneficial solution to creators of originals and consumers. "Art quotations" are applicable to many art forms.

JEL Classification: Z1, K11, L23

Suggested Citation

Frey, Bruno S., Art Fakes - What Fakes?. Available at SSRN: https://ssrn.com/abstract=203210 or http://dx.doi.org/10.2139/ssrn.203210

Bruno S. Frey (Contact Author)

CREMA ( email )

Südstrasse 11
Zurich, CH 8008
Switzerland
+41 44 380 00 78 (Phone)

University of Basel ( email )

Peter Merian-Weg 6
Basel, 4002
Switzerland

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