Home is where your art is: the home bias of art collectors
AbstractThis paper analysis the global distribution of art collections and collectors´ biases with respect to the origin of artworks. Employing a unique dataset we find that the greatest number of private art collections are located in Europe, North America and Asia. There are relatively few collections in Latin America and Africa. The artists whose oeuvres dominate the markets for collected art come from North America, followed by Asian and European artists. The home bias in private art collections turns out to be strong in all continents and countries. It is highest for Asian and African collections and smaller for European and North American collections. The home bias can partly be accounted for by high export and import restrictions.
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Bibliographic InfoPaper provided by Department of Economics - University of Zurich in its series ECON - Working Papers with number 135.
Date of creation: Nov 2013
Date of revision:
Art collection; home bias; trade restrictions; artists;
Find related papers by JEL classification:
- Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- K20 - Law and Economics - - Regulation and Business Law - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-12-06 (All new papers)
- NEP-CUL-2013-12-06 (Cultural Economics)
- NEP-INT-2013-12-06 (International Trade)
- NEP-LAM-2013-12-06 (Central & South America)
- NEP-SEA-2013-12-06 (South East Asia)
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