Visual artist price heterogeneity

Authors

  • Massimiliano Castellani University of Bologna
  • Pierpaolo Pattitoni Department of Management, University of Bologna
  • Antonello Eugenio Scorcu

DOI:

https://doi.org/10.17811/ebl.1.3.2012.16-22

Abstract

This paper proposes an empirical analysis to establish the determinants of artist price heterogeneity. Using a unique dataset, which comprises all artwork sales occurred in Italy in the period 2006–10, and a novel econometric approach, we show that price heterogeneity is explained by several artist- and market-specific characteristics.

Author Biographies

Massimiliano Castellani, University of Bologna

Department of Economics

Pierpaolo Pattitoni, Department of Management, University of Bologna

Department of Management

Antonello Eugenio Scorcu

Department of Economics

References

Bocart, F. and Oosterlinck, K. (2011) Discoveries of fakes: their impact on the art market, Economics Letters, 113, 124-126.

Candela, G., Castellani, M. and Pattitoni, P. (2012) Tribal art market: signs and signals, Journal of Cultural Economics (forthcoming).

Ferrari, S. and Cribari-Neto, F. (2004) Beta regression for modelling rates and proportions, Journal of Applied Statistics, 31, 799–815.

Ginsburgh, V., Mei, J. and Moses, M. (2006) The computation of prices indices, in Handbook of the Economics of Art and Culture, Elsevier, 947-979.

Hastie, T., Tibshirani, R. and Friedman, J. (2009) The elements of statistical learning: data mining, in-ference and prediction, Springer-Verlag, New York.

Zeileis, A. and Cribari-Neto, F. (2010) Beta regression in R, Journal of Statistical Software, 34, 1-24.

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Published

24-10-2012

How to Cite

Castellani, M., Pattitoni, P., & Scorcu, A. E. (2012). Visual artist price heterogeneity. Economics and Business Letters, 1(3), 16–22. https://doi.org/10.17811/ebl.1.3.2012.16-22

Issue

Vol. 1 No. 3 (2012): September

Section

Articles

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