Creative work has enhanced human development since early times; similarly, the latter can expand the former. But the links are not automatic. Creative work can be rife with exploitation and gender bias. Writers can advance human welfare, yet illiterate people may not benefit. To expand the...

Despite substantial government funding and public support for the arts in the United States, quantitative evidence of the benefits of arts participation is rarely addressed in debates over cultural policy. Advocates in recent decades have relied heavily—and sometimes successfully—on economic...

The paper deals with the problem of determinants of the auction prices of the works of art. A specialattention is given to the attributes of works of art i.e.: the name of artist, time of creation, format (size), theme, technique, signature and their influence on the level of auction prices. The...

There are several striking peculiarities of the arts labor market that have attracted the attentions of researchers in the last several decades: first is constant long run excess supply of arts labor; second, artists are more likely to be multiple-job-holders than other professions; third,...

The art market has seen boom and bust during the last years and, despite the downturn, has received more attention from investors given the low interest environment following the financial crisis. However, participation has been reserved for a few investors and the hedging of exposures remains...

There are several striking peculiarities of the arts labor market that have attracted the attentions of researchers in the last several decades: first is constant long run excess supply of arts labor; second, artists are more likely to be multiple-job-holders than other professions; third,...

The article aims at answering the following research question: is the Polish art market mature enough to look at art investment as an important element of portfolio diversification? To provide an answer, the Authors analyzed auctions in Poland from the period 1991-2010, which were published by...

Due to the constantly growing interest in alternative investments, the art market has become the subject of numerous studies. By publishing sales data, many services and auction houses provide a foundation for further research on the latest trends. Determining the definition of the artistic...

The record-breaking prices observed in the art market over the last three years raise the question of whether we are experiencing a speculative bubble. Given the difficulty to determine the fundamental value of artworks, we apply a right-tailed unit root test with forward recursive regressions...