This paper is a comparative analysis of the recent evolution of the French and the Anglo-Saxon profession regulations of auctioneers in terms of entry barriers and exercise of the profession. Firstly, following Stephen and Love's (1999) framework of the regulation of legal profession, we...

This article examines the state of the facilities of the art market in Russia, the basic problems of investing in  art objects and recommendations for the improvement of the art market. Also in the paper investigates the characteristics of consumer behavior when purchasing art objects.

This study investigates the presence (or lack thereof) of nonlinear dynamics and nonstationarity in international art market prices using quarterly data for the period 1990–2011. We first test whether art market price indices follow stochastic trends or whether they are stationary by means of...

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...

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 empirical...

This article is devoted to investment attractiveness evaluation of various art objects. The paper substantiates the use of a matrix of strategic positioning techniques of the art facilities to identify their competitive status in order to reduce market risks for potential investors. The proposed...

The art market is subject to frequent booms and busts in both prices and volume,<br/>which are difficult to reconcile with models where agents are rational and<br/>hold homogenous beliefs. This paper shows that (i) volume is mainly driven by<br/>speculative transactions; (ii) positive price-volume correlation...

The art market is subject to frequent booms and busts in both prices and volume, which are difficult to reconcile with models where agents are rational and hold homogenous beliefs. This paper shows that (i) volume is mainly driven by speculative transactions; (ii) positive price-volume...