are fairly long periods in which art prices may diverge across geographic areas and even auction houses. Third, we review …This paper contains a review of the burgeoning research that has been designed to shed light on how the art auction … system actually works and what it indicates about price formation. First, we find that in recent years returns on art assets …

This paper tests for reference dependence, using data from Impressionist and Contemporary Art auctions. We distinguish …

This paper presents an empirical study of paintings that have failed to meet their reserve price at auction. In the art …

.  The course of prices and profits in cotton textiles illumine the nature of the economic processes at work.  Some … and prices fell in response to technological change.  Price and profit evidence indicates that expansion of the industry …

. Advertising and revenue data for the online book market reveal that consumers respond to advertising rather than low prices. As …

of prices and costs are best described as I(2) processes and that except for Japan a linear combination of the log levels …