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There are several striking peculiarities of the arts labor market that have attracted the attentions of researchers in … the last several decades: first is constant long run excess supply of arts labor; second, artists are more likely to be … paper we developed two dynamic models of an artist’s behavior and arts labor supply. In the first model proposed here an …
Persistent link: https://www.econbiz.de/10010322365
There are several striking peculiarities of the arts labor market that have attracted the attentions of researchers in … the last several decades: first is constant long run excess supply of arts labor; second, artists are more likely to be … paper we developed two dynamic models of an artist’s behavior and arts labor supply. In the first model proposed here an …
Persistent link: https://www.econbiz.de/10010201663
purpose, and made significant contributions to a variety of fields until the Great Depression, though funding for the arts was … arts and culture, and when corporate philanthropy emerged in the 1950s it was also often aimed at the arts and culture. The … National Endowments for the Arts and Humanities have been responsible since 1965 for the central government contribution to …
Persistent link: https://www.econbiz.de/10014023792
Persistent link: https://www.econbiz.de/10012168323
The art market has seen boom and bust during the last years and, despite the downturn, has received more attention from investors given the low interest environment following the financial crisis. However, participation has been reserved for a few investors and the hedging of exposures remains...
Persistent link: https://www.econbiz.de/10003947461
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...
Persistent link: https://www.econbiz.de/10011455334
Due to the constantly growing interest in alternative investments, the art market has become the subject of numerous studies. By publishing sales data, many services and auction houses provide a foundation for further research on the latest trends. Determining the definition of the artistic...
Persistent link: https://www.econbiz.de/10011539772
The record-breaking prices observed in the art market over the last three years raise the question of whether we are experiencing a speculative bubble. Given the difficulty to determine the fundamental value of artworks, we apply a right-tailed unit root test with forward recursive regressions...
Persistent link: https://www.econbiz.de/10010427982
We analyze the guarantees that art-auction houses offer from an options viewpoint. This approach allows us to derive analytical expressions to value the positions involved in such arrangements. We further validate these formulas with a Monte Carlo simulation applied to a realistic example....
Persistent link: https://www.econbiz.de/10012850307
This note investigates price-formation mechanisms at work in the private art market. An analysis is provided on pricing of new artwork for the first sale. In a model with five different types of agents using a bargaining game approach, the artist's preferred market channel is identified. The...
Persistent link: https://www.econbiz.de/10012851742