The “Death-Effect” on Collectible Prices
AbstractIt has been widely observed that the price of celebrity memorabilia rises around the time of that person’s death. Previous authors attribute this “death-effect” primarily to expectations on the part of collectors concerning the future supply of collectibles about the public figure as in the case of a durable goods monopolist. Our observations of the sports memorabilia market suggest that the increase in prices is instead due to a “nostalgia effect” as a result of the media attention that surrounds the death of a prominent public figure.
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Bibliographic InfoPaper provided by Department of Economics, Williams College in its series Department of Economics Working Papers with number 2003-12.
Length: 16 pages
Date of creation: May 2003
Date of revision:
Publication status: published in Applied Economics, June 2004, v. 36, iss. 11, pp. 1151-55.
Find related papers by JEL classification:
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Recreation; Tourism
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Coase, Ronald H, 1972. "Durability and Monopoly," Journal of Law and Economics, University of Chicago Press, vol. 15(1), pages 143-49, April.
- Benjamin J. Burton & Joyce P. Jacobsen, 1999. "Measuring Returns on Investments in Collectibles," Journal of Economic Perspectives, American Economic Association, vol. 13(4), pages 193-212, Fall.
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