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Ars longa, vita brevis: The death of the creator and the impact on exhibitions and auction markets
Economic Research Working Paper No.76
This paper studies the death effect on artists' exhibitions and commercial success in the secondary art market. Based on a random sample of 1'000 popular artists born after the turn of the 20th century, we construct a novel panel data set of their worldwide exhibition history and auction transactions. By applying a regression discontinuity and event study design, we find an overall negative effect of artist death on the number of exhibitions. However, this post mortem effect disappears in longer term. Roughly ten years after death, exhibitions are back to pre-death levels. Arguably, transaction cost and higher auction prices after death also temporarily increase the average cost of exhibiting artworks, e.g. higher market valuation raises (unobserved) insurance cost for exhibitions. Hedonic auction price models confirm this intuition and suggest a significant price premium posthumously. We find substantial heterogeneity in the treatment depending on the age and reputation of the artist at death. Overall findings explain important mechanisms for the post mortem value of artistic work and have important policy implications for the creative sectors and the design of legacy stewardship rules, including a possible justification for rights granted post mortem such as copyright.
Año de publicación: 2023
WIPO Collection of Leading Judgments on Intellectual Property Rights
Members of the African Intellectual Property Organization (1997-2018)
This casebook of selected judgments from the member states of the African Intellectual Property Organization (OAPI) is the second volume in the WIPO Collection of Leading Judgments on Intellectual Property Rights. This collection gives the global intellectual property (IP) community access to landmark judgments from jurisdictions that are among the most dynamic litigation venues or whose jurisprudence is not readily available to an international audience, through a succession of volumes that illustrate IP adjudication approaches and trends by jurisdiction or by theme.
Global Innovation Index 2021, 14th Edition
Executive Summary
The Global Innovation Index 2021 takes the pulse of the most recent global innovation trends and ranks the innovation ecosystem performance of 132 economies, while highlighting innovation strengths and weaknesses and particular gaps in innovation metrics. In its new Global Innovation Tracker section, the report draws on a select set of indicators, including the effects on research and development expenditures or access to innovation finance, to provide a perspective on the impact of COVID-19 on global innovation performance.
Año de publicación: 2021
Technology and Innovation Support Centers (TISCs) Report 2020
Enabling local innovators to exploit their potential
This annual report of the TISC program highlights the key trends, innovations and milestones in 2020, with a focus on how the program and the TISC network responded to the COVID-19 pandemic.
Patent Cooperation Treaty Yearly Review 2021 - Executive Summary
The International Patent System
This document provides the key trends in the use of the WIPO-administered Patent Cooperation Treaty (PCT). This edition provides a summary of the statistics reported in the PCT Yearly Review 2021.
Patent Cooperation Treaty Yearly Review – 2021
Comprehensive facts, figures and analysis of the international patent system. Special theme: A first insight into the impact of the COVID-19 pandemic on PCT applications
Madrid Yearly Review 2021
International Registration of Marks
Comprehensive facts, figures and analysis of the international registration of marks.
IP for the Good of Everyone
Report of the Director General to the 2021 WIPO Assemblies
This annual report reviews the activities of 2020 and looks firmly to the future and a new strategic direction for WIPO.
Executive Summary PCT Yearly Review 2022
This executive brief identifies the key trends in the use of the WIPO-administered Patent Cooperation Treaty (PCT) and provides a summary of the statistics reported in the PCT Yearly Review 2022.
Año de publicación: 2022
Rights, Camera, Action! Intellectual property rights and the filmmaking process
2nd Edition
Rights, Camera, Action! offers professionals in the audiovisual industry guidance on how to use intellectual property protection to generate business opportunities. The reader is taken through the different stages from securing finance to distribution to ensure a successful audiovisual production. With practical advice and enriching case studies from developing countries “Rights, Camera, Action!” will help individual filmmakers and distributors monetize their creative content.