The Market for Sculptures: an Adjacent Year Regression Index
AbstractThis paper analyses the performance of an investment in sculptures during the period 1987-1995 by applying the hedonic price technique with time dummy variables to a sample of over 27,000 sales occured at auctions. The main finding is that the trend of the rate of return on an investment in sculptures is more stable than those associated to alternative forms of investment during the analysed period.
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Bibliographic InfoPaper provided by Institute of Public Policy and Public Choice - POLIS in its series POLIS Working Papers with number 14.
Length: 22 pages
Date of creation: May 2000
Date of revision:
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Web page: http://polis.unipmn.it
Auction; Hedonic Price; Sculpture; Return.;
Find related papers by JEL classification:
- C5 - Mathematical and Quantitative Methods - - Econometric Modeling
- Z1 - Other Special Topics - - Cultural Economics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2001-01-21 (All new papers)
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