Robert B. Ekelund, Jr; Jackson, John D.; Tollison, Robert D. - In: Southern Economic Journal 80 (2013) 2, pp. 454-465
This article considers whether presale auction estimates are unbiased predictors of price when “no-sales” are considered utilizing a newly constructed sample of over 500 works by eight early twentieth-century American artists. Unbiased presale auction estimates in predicting price, while...