Is a Picture Worth a Thousand Words? The Division of Private Copy Remuneration between Authors of Text and Images

32 Pages Posted: 19 Sep 2016  

Juan Santaló

Fundación Instituto de Empresa, S.L. - IE Business School

Date Written: August 1, 2016

Abstract

I propose and implement a method to divide the collection of private copy remuneration between the authors of text and the authors of images. I propose that the division should be based on the economic value added by text and images in the original work. Using a unique dataset of books and magazines copied in Spain, I estimate the economic value of each item, text and image, according to different characteristics of the written creative work. My estimates indicate that the average economic value of the images is between 6.35% and 20.00% of the average economic value of the text. These numbers are close to estimates that simply use the proportion of space occupied by images to proxy their economic value.

Suggested Citation

Santaló, Juan, Is a Picture Worth a Thousand Words? The Division of Private Copy Remuneration between Authors of Text and Images (August 1, 2016). Review of Economic Research on Copyright Issues, 2016, 13(1), 29-60. Available at SSRN: https://ssrn.com/abstract=2840306

Juan Santalo (Contact Author)

Fundación Instituto de Empresa, S.L. - IE Business School

Calle Maria de Molina 12, Bajo
Madrid
Spain

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