Renneboog, Luc; Spaenjers, Christophe - In: Management Science 59 (2013) 1, pp. 36-53
across mediums and movements. Finally, we show that measures of high-income consumer confidence and art market sentiment …This paper investigates the price determinants and investment performance of art. We apply a hedonic regression … resulting price index, we conclude that art has appreciated in value by a moderate 3.97% per year, in real U.S. dollar terms …