Ashenfelter, Orley; Graddy, Kathryn - In: Handbook of the economics of art and culture : volume 1, (pp. 909-945). 2006
This paper contains a new review of the research of the last decade that has been designed to shed light on how the art auction system works, what it indicates about price formation, and how well it performs. We begin with a short description of the mechanics of the auction system and then...
