Chanel, Olivier; Gérard-Varet, Louis-André; … - In: Journal of Cultural Economics 20 (1996) 1, pp. 1-24
We argue that for the case of heterogeneous commodities with infrequent tradings, such as paintings, it is relevant to base a price index on hedonic regressions using all sales and not resales only. To support this conclusion we construct a price index for paintings by Impressionists and their...