investment strategy, once selection bias is accounted for. Our results have important implications for other illiquid asset …This paper shows the importance of correcting for sample selection when investing in illiquid assets with endogenous … paintings with higher price appreciation are more likely to trade. This strongly biases estimates of returns. The selection …

This paper investigates the impact of equity markets and top incomes on art prices. Using a newly constructed art … market index, we demonstrate that equity market returns have had a significant impact on the price level in the art market … over the last two centuries. We also find evidence that an increase in income inequality may lead to higher prices for art …

classes that trade endogenously. "Keywords: ""Art investing; Selection bias; Asset allocation""" … investment strategy, once selection bias is accounted for. Our results have important implications for other illiquid asset …This paper shows the importance of correcting for sample selection when investing in illiquid assets with endogenous …

This paper investigates the impact of equity markets and top incomes on art prices. Using a newly constructed art … market index, we demonstrate that equity market returns have had a significant impact on the price level in the art market … prices for art, in line with the results of a numerical simulation analysis. Finally, the results of Johansen cointegration …

This paper investigates the prices and the returns in the market for modern Russian art, a prime example of an … ‘emerging art market’, over the last four decades. After applying a hedonic regression model on an extensive dataset containing … topic of the work play important roles in the price formation of Russian art, in addition to characteristics such as size …

investment strategy, once selection bias is accounted for. Our results have important implications for other illiquid asset …This paper shows the importance of correcting for sample selection when investing in illiquid assets with endogenous … paintings with higher price appreciation are more likely to trade. This strongly biases estimates of returns. The selection …

This paper shows the importance of correcting for sample selection when investing in illiquid assets with endogenous … viable investment strategy once selection bias is accounted for. Our results have important implications for other illiquid …, and Sharpe Ratios drop from 0.24 to 0.04. From a pure financial perspective, passive index investing in paintings is not a …

In the secondary art market, artists play no active role. This allows us to isolate cultural influences on the demand … their preferences for paintings associated with female artists. Women's art appears to sell for less because it is made by …

We construct a neural network algorithm that generates price predictions for art at auction, relying on both visual and …