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The Art Market, Global Economy and Information Transparency

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  • Federica Codignola

    ()
    (University of Milan-Bicocca)

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    Abstract

    The economic role of art is sustained by complex marketing processes, which tend to modify the aims and conditions of artistic enterprise. The great dynamism which characterises the global markets in which businesses move nowadays also affects artistic enterprises and hence the artist-cumentrepreneur. In the global art market, therefore, information flow between demand, supply and distribution, risks being asymmetrical. With globalisation, the art market has recorded considerable changes. The market has become internationalised up to the point of becoming a worldwide market. On the whole, globalisation of the art market appears to have favoured an increase in supply and its revitalization, too. Demand has undergone a remarkable growth, probably due also to its fragmentation and diversification.

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    File URL: http://webdepot.gsi.unimib.it/symphonya/RePec/pdf/symjournl52.pdf
    File Function: First version, 2003
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    Bibliographic Info

    Article provided by University of Milano-Bicocca in its journal Symphonya. Emerging Issues in Management.

    Volume (Year): (2003)
    Issue (Month): 2 Marketing Research and Global Markets ()
    Pages:

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    Handle: RePEc:sym:journl:52:y:2003:i:2

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    Web page: http://www.unimib.it/symphonya

    Related research

    Keywords: Art Market; Art Marketing; Art Distribution; Auction Houses; Art Market Information; Information Transparency; Global Economy DOI: http://dx.doi.org/10.4468/2003.2.07codignola;

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    1. Pesando, James E, 1993. "Art as an Investment: The Market for Modern Prints," American Economic Review, American Economic Association, vol. 83(5), pages 1075-89, December.
    2. Frey, Bruno S. & Eichenberger, Reiner, 1995. "On the rate of return in the art market: Survey and evaluation," European Economic Review, Elsevier, vol. 39(3-4), pages 528-537, April.
    3. Silvio M. Brondoni, 2001. "Brand Policy and Brand Equity," Symphonya. Emerging Issues in Management, University of Milano-Bicocca, issue 1 Brand E.
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