Saturday, November 29, 2003

Slashdot | Economics of File-Sharing: "The Red Herring's got an article by me about the economics of file-sharing, which argues that the music industry should provide insurance...against itself. This is because the contract listeners sign with labels is risky - it lets labels shirk on their end of the bargain. That's why file-sharing isn't just 'theft', it's risk-sharing. The original, longer, version of the paper is here, which argues that this a situation economists call double moral hazard."

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