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Is the World Flat or Round? Mapping Changes in the Taste for Art

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  • Swann, Peter

    (MERIT)

Abstract

This paper is a preliminary attempt to map the changing tastes for works of art as manifested in the prices of paintings sold at auction. There are two main goals in this work: first, to describe a space in which we can represent the work of different artists; and second, to describe how "cultivated taste" moves around that space. It presents a method of analysing "waves" in popularity, and applies this to data on the prices of works of art during the period 1840-1970. It extends traditional methods of mapping points in n-dimensional constellations onto a plane, showing instead how to locate these points on the surface of a sphere. This can make it easier to explain and interpret some of the observed trends in taste. A result of considerable power and great simplicity is derived: for two products located on the surface of a sphere, the correlation between their prices is equal to the cosine of the angle between them - as measured from the centre of the sphere. The paper - a companion to Cowan''s (2001) paper in this series - also draws out some of the relationships between this economic analysis and some leading themes in art history and art theory.

Suggested Citation

  • Swann, Peter, 2001. "Is the World Flat or Round? Mapping Changes in the Taste for Art," Research Memorandum 009, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
    • Handle: RePEc:unm:umamer:2001009
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    File URL: https://www.merit.unu.edu/publications/rmpdf/2001/rm2001-009.pdf
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    Keywords

    economics of technology ;

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