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...

We analyze long-term art auction sales data focusing on and around financial crisis periods with other investment returns to understand whether art can be considered a safe haven during volatile times or a hedging option in general by analyzing art auction data in a volatile emerging market. Our...

For centuries, wealthy individuals and institutions have collected and consumed art for aesthetic pleasure. While anecdotal evidence suggests that some artworks have appreciated in value over time, few studies have documented investment returns in art systematically. In this article, we...

Following the 2007-09 financial crisis, mainstream finance theory was criticized for failing to forecast the market crash, which resulted in large losses for investors. Has our finance theory, which many consider an idealization that does not take reality into account, failed investors? Do we...

The 2008 economic crisis has greatly affected how people are choosing to invest their money. Many investors have been more cautious of investment opportunities and the risks they impose, which has led to an increased interest in alternative investments. People are starting to look beyond the...

Whether any category of alternative investments ought to be considered for the menus offered to 401(k) participants is a fact-intensive question. Central to this inquiry are ERISA’s legal tests of prudence, diversification and loyalty. These tests require such fact-driven inquiries as the...