WORKINGPAPERISSUE09/20244APRIL2024ECONOMICARGUMENTSINFAVOUROFREDUCINGCOPYRIGHTPROTECTIONFORGENERATIVEAIINPUTSANDOUTPUTSBERTINMARTENSGenerativeartificialintelligence(GenAI)modelshavestirredconsiderablecontroversyaboutcopyrightprotectionforAItraininginputsandmodeloutputs.TheEuropeanUnion’sAIActwillrequiremodeldeveloperstobetransparentabouttheiruseoftraininginputssuchastext,imagesandmusic.TheEUCopyrightDirectiveallowsfreetextanddataminingofthesemediainputsunlesscopyrightholdershaveoptedoutandwantlicensepayments.Therighttoopt-outamountstoeconomicallyinefficientoverprotectionofcopyright.FreeuseofmediacontentforGenAItrainingdoesnotaffectmediasalestoconsumers.Opt-outsonlystrengthenthebargainingpositionofcopyrightholders,whodecidedependingontheirprivateinterests.Thatgenerateswindfallprofitswithoutanyincreaseinconsumersurplusorsocialwelfare.ThelicensingoftraininginputsreducesthequantityofdataandthequalityofGenAImodels,createstransactioncostsandreducescompetitionbetweenGenAIfirms.ThisslowsdownGenAI-inducedinnovationinmediaproductsandproductionprocesses,andproductivitygainsinallservicesectorsthatapplyGenAI.Ultimately,itslowsdowneconomicgrowthcomparedtowhatitcouldbewithcompetitiveandhigh-qualityGenAI.Bargainingoverlicensepricingisarbitraryasthereisnoobjectiverevenuebenchmarktostartfrom.Defendersofthemoralrighttoremunera...
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