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Invest in depth or breadth? The influence of multidisciplinary practices on the valuation and legitimation of living artists

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  • Faye, Benoit

Abstract

This study examines the impact of interdisciplinarity on the market value and artistic legitimacy of 945 living artists from 2000 to 2020. Market value is measured using cumulative auction sales from Artprice.com, while artistic legitimacy is assessed through Artfacts’ global ranking. Interdisciplinarity is evaluated based on the number of disciplines practiced and the concentration of production. Controlling various quality signals, types of work produced, and individual artist characteristics, we employ a heteroscedasticity-corrected model to estimate the relationship between interdisciplinary practices and both artist value and legitimacy. Our findings indicate that interdisciplinarity enhances artistic legitimacy and, in certain cases, increases market value. These results provide valuable insights for contemporary art investors' strategies.

Suggested Citation

  • Faye, Benoit, 2025. "Invest in depth or breadth? The influence of multidisciplinary practices on the valuation and legitimation of living artists," Finance Research Letters, Elsevier, vol. 80(C).
    • Handle: RePEc:eee:finlet:v:80:y:2025:i:c:s1544612325007081
    DOI: 10.1016/j.frl.2025.107448
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    More about this item

    Keywords

    Contemporary art; Art market; Alternative investment; Artprice; Artfacts;
    All these keywords.

    JEL classification:

    • Z1 - Other Special Topics - - Cultural Economics
    • D9 - Microeconomics - - Micro-Based Behavioral Economics
    • F6 - International Economics - - Economic Impacts of Globalization

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