Using transactions from fine art auctionsfor 42 leading American contemporary artists Iestimate the relationship between the value of apainting and the artist's age at the date of itsexecution. The econometric estimates show that artistsborn before 1920 were likely to have produced theirmost...

We study the art market in the Venetian Republic from 1550 to 1750 analyzing the determinants of the prices (adjusted for the cost of living measured by the price of wheat) of figurative paintings. Reputation of the painters, size of the paintings and other quantifiable factors affect prices as...

This paper proposes a price index for modern andcontemporary paintings based on estimates and auctionprices. We use this index for the evaluation of theItalian art market and for comparisons with returns onother assets. During the period 1983–1994 art pricesincreased in line with inflation but...

This paper updates prior work by Pesando (1993) regarding art as an investment. Using world-wide auction prices for Picasso prints for the period 1977 to 1996, this paper establishes that (1) a recovery in the art market did occur in the mid-1990s, but (2) the real rate of return on this segment...

The artistic labor market is marked by several adversities, such as low wages, above-average unemployment, and constrained underemployment. Nevertheless, it attracts many young people. The number of students exceeds the available jobs by far. A potential explanation for this puzzle is that...

It is well known that young people are major consumers of screen media and that their peers are one of the principal determinants of youth behavior as regards their patterns of consumption and other activities. On the basis of these premises, the purpose of this paper is to analyze the influence...

This article deals with the determinants of artistic innovation by arts organizations. First, we define artistic innovation. Second, we review the literature on its determinants, identifying some gaps. In particular, we observe that existing research mostly focuses on macro-environmental factors...

In this paper, we describe the institutional framework in which heavy subsidization of German classical orchestras takes place and provide figures on the structure and the level of public support. Moreover, we derive and test various hypotheses concerning the political-economic determinants of...