Rui Miguel Silva Seabra wrote: > > On Fri, 2006-02-10 at 16:52 +0100, Alexander Terekhov wrote: > > Rui Miguel Silva Seabra wrote: > > > > [... "monopoly" ...] > > > > William M. Landes and Richard Posner: > > > > ----- > > A property right is a legally enforceable power to exclude others > > from using a resource, without need to contract with them. So if A > > owns a pasture, he can forbid others to graze their cattle on it > > Yes, we all know that. But contrary to grass & cows, people can copy > digital content ad aeternum without loss of the source.
----- ................................ The dynamic benefit of a property right is the incentive that the right imparts to invest in the creation or improvement of a resource ......................... ............................................................ ...................................... For example, a firm is less likely to expend resources on developing a new product if competing firms that have not borne the expense of development can duplicate the product and produce it at the same marginal cost as the innovator; competition will drive price down to marginal cost, and the sunk costs of invention will not be recouped. ----- regards, alexander. _______________________________________________ Gnu-misc-discuss mailing list Gnu-misc-discuss@gnu.org http://lists.gnu.org/mailman/listinfo/gnu-misc-discuss
