Aggregate art price patterns mask a lot of underlying variation--both in the time series and in the cross- section. We … discuss relevant recent literature, and illustrate the potential of this approach through a historical study of art price … organization of the art market for long-term price trends …

Aggregate art price patterns mask a lot of underlying variation--both in the time series and in the cross- section. We … discuss relevant recent literature, and illustrate the potential of this approach through a historical study of art price … organization of the art market for long-term price trends …

academic interest in art, understanding of auction prices is limited. Price intransparency is exacerbated by contrasting … approaches in theory and practice: Theory is dominated by quantitative studies that measure the effects of individual factors … is no comprehensive theory of auction prices that combines both perspectives. To fill this gap, the author conducts three …