IDEAS home Printed from https://ideas.repec.org/p/cor/louvco/1994038.html
   My bibliography  Save this paper

Do Art Experts make Rational Estimates of Pre-Sale Prices ?

Author

Listed:
  • BAUWENS, Luc

    (CORE, Université catholique de Louvain, B-1348 Louvain-la-Neuve, Belgium)

  • GINSBURGH, Victor A.

    (Université Libre de Bruxelles, Bruxelles and CORE, Université catholique de Louvain, B-1348 Louvain-la-Neuve, Belgium)

Abstract

Public sales art catlLlogues inc:1ucle low and high pre-sale price estimates made by experts. This makes it possible to analyze whether salerooms behave rationally or not, when setting their estimates. Rationality is tested using a sample of some 1,600 lots of English silver sold at auctions by Christie's and Sotheby's. Results show that estimates are significantly biased and that experts do not use all the information that is available to them when they make their estimates .

Suggested Citation

  • BAUWENS, Luc & GINSBURGH, Victor A., 1994. "Do Art Experts make Rational Estimates of Pre-Sale Prices ?," LIDAM Discussion Papers CORE 1994038, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:1994038
    as

    Download full text from publisher

    File URL: https://sites.uclouvain.be/core/publications/coredp/coredp1994.html
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cor:louvco:1994038. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alain GILLIS (email available below). General contact details of provider: https://edirc.repec.org/data/coreebe.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.