Prices and Returns on Paintings and Exercise on How to Price the Priceless
AbstractArt is priceless, but paintings, and other objects, have been sold on markets since the time of the Roman Empire. In this paper, we describe a method for constructing a price index for paintings and compare this index to the indices of various financial markets. In particular, we discuss whether the price of art is related to financial markets, whether the art market is weakly efficient, and whether it is more or less risky than financial markets. The Geneva Papers on Risk and Insurance Theory (1994) 19, 7â21. doi:10.1007/BF01112011
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Bibliographic InfoPaper provided by Universite Aix-Marseille III in its series G.R.E.Q.A.M. with number 93b01.
Length: 19 pages
Date of creation: 1993
Date of revision:
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Postal: G.R.E.Q.A.M., (GROUPE DE RECHERCHE EN ECONOMIE QUANTITATIVE D'AIX MARSEILLE), CENTRE DE VIEILLE CHARITE, 2 RUE DE LA CHARITE, 13002 MARSEILLE.
Web page: http://www.greqam.fr/
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Other versions of this item:
- O. Chanel & L. A. Gerard-Varet & V. Ginsburgh, 1994. "Prices and Returns on Paintings: An Exercise on How to Price the Priceless," The Geneva Risk and Insurance Review, Palgrave Macmillan, vol. 19(1), pages 7-21, June.
- Chanel, O. & Gerard-Varet, L. A. & Ginsburgh, V., . "Prices and returns on paintings: an exercice on how to price the priceless," CORE Discussion Papers RP -1106, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Olivier Chanel & Louis-André Gérard-Varlet & Victor Ginsburgh, 1994. "Prices and returns on paintings: an exercise on how to price the priceless," ULB Institutional Repository 2013/1721, ULB -- Universite Libre de Bruxelles.
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