共查询到20条相似文献，搜索用时 31 毫秒
1.
Pierre-Charles Pradier François Gardes Xavier Greffe Ileana Miranda Mendoza 《Journal of Cultural Economics》2016,40(4):453-485
The market for autographs has become more open to international buyers since 1990. Our data set features a large sample of store and auction sales for selected authors every 5 years from 1960 to 2005. The estimation of a hedonic price function shows that page count, type of author, date and type of the document conditionally to author explain more than three quarters of the price differences. The apparent price of autographs increased by 7.7 % per year during the period, while the hedonic price index increased by 7.9 % on average. With a supply function responsive to market valuation, as well French autograph prices seemingly showing trend similar to art market index, the French autograph market has become more integrated in the global art market. 相似文献
2.
We study the incentives that museums face in determining how much resources to invest in the protection of their artwork from theft. We present and analyze a game-theoretic model of art heists that accounts for the strategic interactions between museums’ and art thieves’ decisions and that incorporates several key features of the black market for stolen art. We find that the equilibrium level of security museums choose need not be monotonic in the true market value or the black market value of artwork, i.e., increasing the value of an art piece—whether it is the true market value or the black market value—does not necessarily lead museums to invest more in protecting their artwork. The effects of parameter changes in the model that reflect a shift of public policy depend critically on what type of policy change is considered. For instance, an increase in the penalty imposed for committing art theft cannot raise the amount of theft in equilibrium and could in fact lead museums to increase their level of security. On the other hand, investing more resources on law enforcement agencies so that they are better able to solve art crimes can actually increase the amount of theft in equilibrium by causing museums to spend less on security. 相似文献
3.
InMaking the Mummies Dance, Thomas Hoving, former director of the Metropolitan Museum of Art, articulates a blistering defense of his, admittedly minority, view; namely, that trading directly with dealers when selling deaccessioned works of art or adding to museum collections is preferable to buying and selling in the open auction market (Hoving, 1992). Hoving has been severely criticized for his trades during his tenure at the Metropolitan, as well as for his assessment of the market for fine arts, which runs counter to the prevailing views held by many American public officials, professional art critics and museum boards. We shall present a theoretical model in support of Hoving's argument that trades made at auctions may not serve the public interest. We shall also statistically investigate the stochastic processes which characterize the tertiary art market. 相似文献
4.
Valuing the Canadian Broadcasting Corporation 总被引：1，自引：0，他引：1
Over recent years the Canadian government has struggled to determine how muchmoney should be spent on the Canadian Broadcasting Corporation (CBC), itspublic service broadcaster. At the same time, regulators and CBC managementhave struggled with what types of programming services it should provide.Traditionally, the citizen's role in public broadcasting decision making hasbeen limited to an occasional submission at a hearing or a response to apublic opinion survey. However, willingness-to-pay stated preference choiceexperiments could be an effective, low cost means of obtaining more detailedcitizen's input. Here, we report findings from a national survey of Canadianhouseholds in which contingent valuation and choice experiment data are usedto estimate use and non-use values of the various programming servicesprovided by the CBC. The results are used to address policy and programmingissues facing the organization. 相似文献
5.
The impact of the <Emphasis Type="Italic">Droit de Suite</Emphasis> in the UK: an empirical analysis
The Droit de Suite, known in the UK as Artists’ Resale Rights, provides an artist with the inalienable right to receive a royalty based on the
resale price of an original work of art. This paper provides an empirical analysis of actual changes in the UK auction market
for art that is newly subject to the Droit de Suite (DDS) because of a change in law. All changes are measured relative to changes for art not subject to the DDS and relative
to changes in the auction markets for art in countries where there has been no change in law. We do a difference-in-difference
analysis, differencing price growth and sales growth across market segments and across countries over the period 1993–2007.
Our results suggest that the introduction of the DDS has not had a consistent negative impact on the UK art auction market
during the period of study. 相似文献
6.
This paper updates prior work by Pesando (1993) regarding art as an investment. Using world-wide auction prices for Picasso prints for the period 1977 to 1996, this paper establishes that (1) a recovery in the art market did occur in the mid-1990s, but (2) the real rate of return on this segment of the art market remains low relative to its risk. Indeed, the real rate of return is beneath that provided by U.S. Treasury Bills. 相似文献
7.
Guido Candela Massimiliano Castellani Pierpaolo Pattitoni 《Journal of Cultural Economics》2012,36(4):289-308
In this paper, we present a model for the marketability of a Tribal artwork, and we test this model empirically using a unique hand-collected dataset, which comprises the worldwide Tribal art market auctions between 1999 and 2008. Our results show a significant relationship between the probability of an artwork to be sold and several signs and signals. The effect of the auction estimated prices on the probability of sales is nonlinear and allows us to divide the Tribal art market into two price regimes. In the low-price regime, the effect of the auction estimated price on the probability of sales is negative. In the high-price regime, the effect of the auction estimated price on the probability of sales is positive. 相似文献
8.
Ana María Bedate Luis César Herrero José Ángel Sanz 《Journal of Cultural Economics》2009,33(3):185-199
Biases in contingent valuation exercises are often difficult to quantify and to correct due to the hypothetical nature of the method itself. One common problem is hypothetical bias, which in recent years has been addressed in various ways, particularly through the inclusion of a certainty question in the questionnaire. We analyse the impact of applying differing corrections based on the certainty question for double-bounded dichotomous economic valuation exercises. The empirical application is based on data gathered from four surveys conducted with various groups to obtain the value allocated to a modern art museum: the Museo Patio Herreriano de Arte Contemporáneo Español, in the city of Valladolid (Spain). Findings indicate that estimates of Willingness to Pay are significantly reduced when a higher certainty threshold is required, in other words when individuals are more certain of their choices. Furthermore, correction through recoding proved more severe than correction through exclusion. 相似文献
9.
《Journal of Cultural Economy》2013,6(1):19-34
The purpose of this article is to suggest a model of calculation in art markets based upon the work of Pierre Bourdieu and of actor-network theory. It will be argued that Bourdieu's concepts of capitals, economic, symbolic and cultural are useful for the specificity they lend to value making processes in the art market. However, actor-network theory's proposal of a distributed form of agency between humans and non-humans (e.g. calcualtion tools) is favoured here, posing a fundamental challenge to Bourdieu's notion of agency as resting solely at the hands of human agents. In order to understand the performance of calculation, this article explores the role of catalogues as an example of a market device in the Scottish auction market. It will be argued that the performativity of the catalogue cannot be fully understood without taking into account not only how it represents and enacts the value/s of aeshtetic objects, e.g. paintings, but also how this performance is mediated by its role as an aesthetic object. 相似文献
10.
Minerva - Did the liberal art disciplines at American universities have the highest failure rate between the 1970s and the early 2000s? Important theoretical traditions indeed believe that the... 相似文献
11.
Private or Public? 总被引：1，自引：1，他引：0
This paper concerns the consequences of subsidizing art production. Once a government offers grants and subsidies, artists can decide between public and private funding. A joint model of this choice-situation and the related earnings is derived. The model is tested for the case of visual artists in the Netherlands. The analyses show that subsidizing artists enhances a winner-takes-all tendency for the market at large. Financial success on both the private and the public market appears to be not particularly related to human capital, but to personal characteristics, government recognition and (unobserved) talents. 相似文献
12.
We analyze art pricing in a unique dataset on Madrid inventories between 1600 and 1750. We estimate a price index for the Spanish art market that is used for a general historical analysis of art during this period, showing a large increase in the real price of paintings during the XVII century. Then we examine the price differential between domestic and foreign paintings: At the beginning of the century domestic production was priced substantially below imported paintings, but the price gap was gradually reduced during the century. We argue that such a price convergence was not the fruit of variations in real exchange rate, relative supply or home bias, but was associated with increasing prices for the new domestic painters of the XVII century. Increasing remuneration for painting may have induced artistic innovations by domestic producers and created the conditions for the development of the Siglo de Oro of Spanish art. 相似文献
13.
Douglas J. Hodgson 《Journal of Cultural Economics》2011,35(4):287-308
We conduct an empirical analysis of the effect on the auction price of a Canadian painting of the age of the painter at the
time of creation of the painting. We consider over two hundred artists, active over the entire history of Canadian art, who
are pooled in the estimation of a hedonic regression in which a polynomial function in age enters as a regressor along with
several other control variables. We consider the possibility that the age–price relationship has changed over time by: (a)
estimating separate age–price functions for three generational groups of artists—those born before 1880, between 1880 and
1920, and after 1920 and thus coming of age in the world of post-war ‘contemporary art’ and (b) estimating a parameterization
where the shape of the age–price profile is permitted to change continuously depending on the year of birth of the artist.
Our principal result is that artists born more recently tend to ‘peak’ earlier in their careers than those of previous generations. 相似文献
14.
Seth C. Anderson Robert B. EkelundJr. John D. Jackson Robert D. Tollison 《Journal of Cultural Economics》2016,40(3):335-357
Art, along with other “treasure assets,” has become a central object for investment opportunities. Investment return studies using hedonic and resale price regressions on different artistic periods and styles produce estimates of varying rates of return, predominately low rates with high standard deviations. The present study employs a new sample of American art sold at auction between 1987 and 2011—art created before 1950 by 33 artists born prior to 1900. Our study, unlike those that preceded it, considers works that are no-sales (those “bought-in” for failing to sell at auction at or above a predetermined and negotiated minimum price), in addition to full transaction costs—buyers and sellers premia on hammer prices. We conclude that investment return calculations are biased upward and may be negative when these factors are considered and that the “consumption utility” of art may be higher than previously thought. However, using a variant of the capital asset pricing model, we find that investment in early American art may still be desirable in a diversified portfolio of assets for when the price of stock assets falls, the price of art does not fall in the same proportion. 相似文献
15.
Trine Pallesen 《Journal of Cultural Economy》2016,9(6):527-540
Public policies such as feed-in tariffs have been widely introduced to stimulate the development of renewable energies, and sustain a decarbonisation of the electricity sector. Proponents argue that these governance instruments safeguard public goods such as the climate – yet they are accused of creating political markets, and political prices, here understood as market distortion. This paper studies the ‘politics’ of pricing by following the adoption of the first feed-in tariff in France. Pricing as a way of achieving non-economic ends, such as climate mitigation, brings the values of several public goods into play, all the while prompting a translation of these values into a single price. Following the struggles over the pricing of wind power in the early 2000s, the study illustrates that rather than a pollution of the market sphere by that of politics, a politics of pricing can be observed in four distinct struggles: namely the framing of the public interest; valuation as the articulation of the future; the possible agencies of governance; and role of valuation methods and calculations. 相似文献
16.
17.
Are Multiple Art Markets Rational? 总被引：1，自引：1，他引：0
We advance and subsequently test the proposition thatmarkets for fine art are rational, namely, that, inthe determination of price, traders make use of allrelevant art historical and critical information, asrevealed by hedonic content analysis, as well as allinformation on authenticity of the works offered forsale. If true, the proposition has consequences forpublic policy. Museums optimize choices among art historicallysignificant authentic paintings distributed asstochastic rare events in the tertiary market for art. Such paintings have few, if any, art historicallyequivalent substitutes, causing the demand for suchworks of art to be extremely inelastic. Museums tendto buy at the top of the information curve; payingprices which exceed market averages for similar art. As a result, society pays the cost of institutionalrisk aversion. In contrast, collectors often purchaseart before all art historical information is complete,and often earn a reward for assuming a risk due toincomplete information (Singer, 1991; Pomerhene, 1994).Collectors who can borrow to accumulate the highestcategory art can consume the services of their artcollection at zero cost. Stochastic transferfunctions fitted to time series of sales volume at thetwo top international auction houses confirm thehypothesis that the highest category of art is a quasisubstitute for financial instruments (liquid wealth). 相似文献
18.
A well-documented instance of the establishment and evolution of a modern market is that of the American collectable comic-book market. The development of this can be reliably traced from inception to the present day. A sample of 1,100 American collectable comic-books is subjected to an hedonic analysis to determine the relative contribution of pricing components (predictor variables) to the market price. Issues arising from the model’s significance and predictive power are addressed in terms of provenance (path dependency of price). The history of the market is examined in terms of the dates by which predictive variables were introduced. The difficulty of obtaining a universal pricing rule is considered, and conclusions are drawn regarding the form and value of such a rule. 相似文献
19.
Within a hedonic pricing model, the preferences of Australian art purchasers are investigated. Emphasis is placed on the impact of an artwork’s dimensions upon its auction price. A salient aspect of this is the first test of the ‘golden ratio’ hypothesis in a market situation. It is concluded that purchasers prefer paintings that deviate from the golden rule. The ‘orientation’ of works (portrait, landscape or square) as well as size also helps determine price. The impact of winning the Archibald portraiture prize (Australia’s foremost art prize) is found to have significant and positive impacts on winning artists’ prices. This suggests that purchasers are not fully informed. In addition, a previously unsuspected relationship between artwork dimensions and Archibald prize winners was found. As well as purchasers’ preferences, the artists’ choices of the dimensions of their artworks are considered. 相似文献
20.
《Journal of International and Intercultural Communication》2013,6(1):44-65
Abstract This essay examines the theme of the unknown meanings of Native American rock art in interpretive materials at rock art sites in order to explore the rhetorical constitution of indeterminacy in neocolonial contexts. The implications of indeterminacy are explored through Peters's (1999) discussion of dissemination and dialogue as normative models of communication. This analysis demonstrates that indeterminacy is used to license appropriations and polysemic interpretations of the traces of indigenous cultures, thereby enabling the projection of Western cultural imaginings onto the rock art and discouraging engagement with the interiority of indigenous others. 相似文献