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This paper applies the Johansen Cointegration procedure to test the law of one price (LOOP) for twelve international … arrangement. Price index for each market is estimated using the repeat sales method. The order of integration of each price series … was determined using the augmented Dickey-Fuller and the DF-GLS tests. The results show that only five price index series …
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We analyze the evolution of the price of paintings in London auctions with a unique dataset of over 200,000 sales in … the period 1780-1840. We build a price index for the representative painting through hedonic regressions controlling for …
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