describing the art market. Instead of dismissing this view, this chapter argues that we need a typology of beliefs about art …-end contemporary art market in New York and London, I find that collectors, investors, and art world experts often have different views …

of market capitalism, of which China's hybrid market economy is the most significant. Institutional diversity of this … defences law (and elsewhere) to help draw these boundaries is the concept of the ‘market distortion'. The concept can be a …