Buy custom Thought paper - Piracy paradox
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| Topic: |
Business
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| Number of pages / Number of words: |
2 / 466 |
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In the absence of copying, individual designers will have longer career with few products. So even though fashion industry as a whole may be growing due to copying, designers or houses are feeling a less reward for more work.
So when we look at the issue through the behavioural psychology, piracy paradox doesn’t seem so paradoxical...
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Answer to this puzzle lies largely in the loss aversion tendency explained in classic ‘prospect theory of utility’ proposed by Kahneman and Tversky which states that losses looms larger than gains. Big fashion houses are feeling sales loss to cheap knockoffs much bigger than the gains of increased brand values and higher demand for the new and original designs (translating to higher prices to their products) even though evidences are contrary...
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General points of the essay
Copying And Copyright
Fashion designer career
INDIVIDUAL WORK VERSUS TEAM WORK
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