Cultural capital is assumed to benefit all members of society. It is built up by the aggregate consumption of cultural goods and is diminished through depreciation. In the no-policy market economy, consumers tend to ignore the beneficial external effects of their cultural good consumption on the...

While trust is the cornerstone in the functioning of any market, it is of particular importance in the markets that are unregulated, illiquid, and opaque, such as the art market. We therefore examine the role of authenticity, as captured by the provenance information, on the sales probability of...