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date: 17 November 2019

Abstract and Keywords

This article summarizes and surveys the economics of geographically differentiated products. It presents the rationale for regulation and the economic implications of regulation on geographical indications (GI) are elaborated by the use of various theoretical approaches. The article defines the concepts of geographically differentiated products and geographical indications and outlines briefly the different legal regulations in force. Thereafter, the economic rationale for establishing and protecting GIs as well as the different paradigms prevailing in the European Union and the United States are presented. Moreover, this article analyzes economic impacts of protecting and promoting GIs. It reviews and synthesizes the available empirical evidence on consumers' willingness to pay (WTP) for origin labels and the economic rationale of GIs. The analyses comprises a large number of different approaches and case studies reflecting the array of research questions arising out of geographically differentiated products.

Keywords: geographically differentiated products, geographical indications, economic rationale, economic rationale

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