2023
DOI: 10.52214/jla.v46i2.11019
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Plunder and Provenance: Using Restitution to Correct a Market Defect

Abstract: The secondary art market is experiencing a market failure caused by Nazi-looted art without legal title. Legal and market responses are inadequate and create illiquidity. The prevailing methodology entrenches existing inefficiencies by not utilizing the potential to rehabilitate Nazi-looted art. Economic research does not address Nazi-looted art, and the legal, ethical, and moral discussions are not considering the economic effect of Nazi-looted art on the market. Existing proposals lack a distributive aspect … Show more

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