illicit trade. By analyzing novel disaggregated data of antiquities sold at auction in the past 20 years, our results indicate … “provenance”) and the price premium paid for such items both increased. In addition, we show that standard assumptions behind …

We provide evidence that culture is a source of pricing bias. In a sample of 1.9 million auction transactions in 49 …

Public sales art catalogues include low and high pre-sale price estimates by experts. This makes it possible to analyze …

auction system works, what it indicates about price formation, and how well it performs. We begin with a short description of … competitive behavior of auction houses in the determination of prices. We move on to discuss the role of experts and price … the mechanics of the auction system and then organize the remainder of our discussion around two major topics. The first …

vehicle characteristics to present RD estimates of reserve price effects on auction outcomes. Our first set of results show … that, in line with the robust predictions of auction theory, an increase in reserve price decreases the number of bidders … price than those of the average bidder, suggesting auction winners are not the marginal entrant. -- auctions ; regression …

We analyze the evolution of the price of paintings in London auctions with a unique dataset of over 200,000 sales in … the period 1780-1840. We build a price index for the representative painting through hedonic regressions controlling for …