Campos, Nauro F.; Barbosa, Renata Leite - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2008
for the declining price anomaly, or “afternoon effect.”
JEL Classification: D44, G11, L12, Z10
Keywords: art … auctions, masterpiece effect, declining price anomaly, Latin American art
Corresponding author:
Nauro F. Campos … “declining price anomaly,” or “afternoon effect,” which refers to a decline in prices as the
auction proceeds (Ashenfelter and …