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  • Author: Manfred Tietzel x
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Abstract

Quite a few economists hold the opinion that exorbitant prices paid for original works of art reflect an irrational cult made of unique pieces created by renowned artists; (close to) perfect copies would yield comparable benefits at a substantially lower price. The article gives reasons for the rationality of this seemingly irrational behavior and, among other things, explains the price difference between originals and their copies on a microeconomic basis.

Abstract

The suggested changes to German orthography are among last year’s most fervently debated topics. The article identifies the individual and collective costs and benefits of such a change and, from the point of view of standardization economics, inquires into the conditions under which such a reform can be expected to be successful.