The death effect in art prices: evidence from Denmark
AbstractAnalysing a panel of paintings by Danish painters suggests that the conditional life expectancy of the artist at the time of sale has a negative impact on the sale price. This is consistent with the idea that artists share some of the characteristics of durable monopolists and that the aging and ultimately the death of the artist represent acceptable forms of commitment not to 'overproduce'. In addition interest in an artist's work begins to wane after their death.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics.
Volume (Year): 40 (2008)
Issue (Month): 14 ()
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- Jun-ichi Itaya & Heinrich Ursprung, 2008. "Price and Death," CESifo Working Paper Series 2213, CESifo Group Munich.
- Heinrich W. Ursprung & Christian Wiermann, 2011.
"Reputation, Price, And Death: An Empirical Analysis Of Art Price Formation,"
Western Economic Association International, vol. 49(3), pages 697-715, 07.
- Heinrich Ursprung & Christian Wiermann, 2008. "Reputation, Price, and Death: An Empirical Analysis of Art Price Formation," CESifo Working Paper Series 2237, CESifo Group Munich.
- 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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