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An hedonic analysis of American collectable comic-book prices

Author

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  • John Wyburn

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  • Paul Roach

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Abstract

A well-documented instance of the establishment and evolution of a modern market is that of the American collectable comic-book market. The development of this can be reliably traced from inception to the present day. A sample of 1,100 American collectable comic-books is subjected to an hedonic analysis to determine the relative contribution of pricing components (predictor variables) to the market price. Issues arising from the model’s significance and predictive power are addressed in terms of provenance (path dependency of price). The history of the market is examined in terms of the dates by which predictive variables were introduced. The difficulty of obtaining a universal pricing rule is considered, and conclusions are drawn regarding the form and value of such a rule. Copyright Springer Science+Business Media New York 2012

Suggested Citation

  • John Wyburn & Paul Roach, 2012. "An hedonic analysis of American collectable comic-book prices," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 36(4), pages 309-326, November.
  • Handle: RePEc:kap:jculte:v:36:y:2012:i:4:p:309-326 DOI: 10.1007/s10824-012-9166-6
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    File URL: http://hdl.handle.net/10.1007/s10824-012-9166-6
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    References listed on IDEAS

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    1. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    2. Elisabetta Lazzaro, 2006. "Assessing quality in cultural goods: The hedonic value of originality in Rembrandt’s prints," ULB Institutional Repository 2013/149123, ULB -- Universite Libre de Bruxelles.
    3. Michaël Dewally & Louis Ederington, 2006. "Reputation, Certification, Warranties, and Information as Remedies for Seller-Buyer Information Asymmetries: Lessons from the Online Comic Book Market," The Journal of Business, University of Chicago Press, vol. 79(2), pages 693-730, March.
    4. Elisabetta Lazzaro, 2006. "Assessing Quality in Cultural Goods: The Hedonic Value of Originality in Rembrandt's Prints," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 30(1), pages 15-40, March.
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    Citations

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    Cited by:

    1. Pierre-Charles Pradier & François Gardes & Xavier Greffe & Ileana Miranda Mendoza, 2016. "Autographs and the global art market: the case of hedonic prices for French autographs (1960–2005)," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, pages 453-485.
    2. Yamamura, Eiji, 2013. "Externality of young children on parents’ watching of anime: Evidence from Japanese micro data," MPRA Paper 46878, University Library of Munich, Germany.
    3. Ileana Miranda Mendoza & François Gardes & Xavier Greffe & Pierre-Charles Pradier, 2014. "Are autographs integrating the global art market? The case of hedonic prices for French autographs (1960-2005)," Documents de travail du Centre d'Economie de la Sorbonne 14053, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    4. Eiji Yamamura, 2014. "The effect of young children on their parents’ anime-viewing habits: evidence from Japanese microdata," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, pages 331-349.
    5. Eiji Yamamura & Inyong Shin, 2016. "Effect of consuming imported cultural goods on trading partners’ tolerance toward immigrants: the case of Japanese anime in Korea," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 152(4), pages 681-703, November.
    6. Yamamura, Eiji & Shin, Inyong, 2014. "Effect of consuming imported cultural goods on tolerance for immigrants from trade partners: Case of Japanese anime in Korea," MPRA Paper 58467, University Library of Munich, Germany.
    7. Bertacchini, Enrico & Friel, Martha, 2014. "Determining the Value of Modern and Contemporary Furniture Design: an Exploratory Investigation," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201437, University of Turin.

    More about this item

    Keywords

    Hedonic analysis; Market model; Comic-books; Alternative investments; Long-term returns; G1; Z11;

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature

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