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'Death effect' on collectible prices

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  • Victor Matheson
  • Robert Baade

Abstract

It has been widely observed that the price of art or celebrity memorabilia rises around the time of the artist or figure's death. Previous authors attribute this ' death effect ' primarily to expectations on the part of collectors concerning the future supply of collectibles relating to the public figure as in the case of a durable goods monopolist. The observations of the sports memorabilia market suggest that the increase in prices is instead due to a ' nostalgia effect ' as a result of the media attention that surrounds the death of a prominent public figure.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 36 (2004)
Issue (Month): 11 ()
Pages: 1151-1155

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Handle: RePEc:taf:applec:v:36:y:2004:i:11:p:1151-1155

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  1. Coase, Ronald H, 1972. "Durability and Monopoly," Journal of Law and Economics, University of Chicago Press, vol. 15(1), pages 143-49, April.
  2. Paul Gabriel & Curtis Johnson & Timothy Stanton, 1999. "Customer racial discrimination for baseball memorabilia," Applied Economics, Taylor & Francis Journals, vol. 31(11), pages 1331-1335.
  3. Benjamin J. Burton & Joyce P. Jacobsen, 1999. "Measuring Returns on Investments in Collectibles," Journal of Economic Perspectives, American Economic Association, vol. 13(4), pages 193-212, Fall.
  4. R. Ekelund & Rand Ressler & John Watson, 2000. "The ``Death-Effect'' in Art Prices: A Demand-Side Exploration," Journal of Cultural Economics, Springer, vol. 24(4), pages 283-300, November.
  5. Gabriel, Paul E & Johnson, Curtis & Stanton, Timothy J, 1995. "An Examination of Customer Racial Discrimination in the Market for Baseball Memorabilia," The Journal of Business, University of Chicago Press, vol. 68(2), pages 215-30, April.
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Cited by:
  1. Bronwyn Coate & Tim R.L. Fry, 2012. "Better off Dead? Prices Realised for Australian Paintings Sold at Auction," ACEI Working Paper Series AWP-02-2012, the Association for Cultural Economics International, revised Feb 2012.

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