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The death effect in art prices: evidence from Denmark

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  • David Maddison
  • Anders Jul Pedersen

Abstract

Analysing a panel of paintings by Danish painters suggests that the conditional life expectancy of the artist at the time of sale has a negative impact on the sale price. This is consistent with the idea that artists share some of the characteristics of durable monopolists and that the aging and ultimately the death of the artist represent acceptable forms of commitment not to 'overproduce'. In addition interest in an artist's work begins to wane after their death.

Suggested Citation

  • David Maddison & Anders Jul Pedersen, 2008. "The death effect in art prices: evidence from Denmark," Applied Economics, Taylor & Francis Journals, vol. 40(14), pages 1789-1793.
  • Handle: RePEc:taf:applec:v:40:y:2008:i:14:p:1789-1793
    DOI: 10.1080/00036840600905191
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    Cited by:

    1. Heinrich W. Ursprung & Christian Wiermann, 2011. "Reputation, Price, And Death: An Empirical Analysis Of Art Price Formation," Economic Inquiry, Western Economic Association International, vol. 49(3), pages 697-715, July.
    2. Bronwyn Coate & Tim R.L. Fry, 2012. "Better off Dead? Prices Realised for Australian Paintings Sold at Auction," ACEI Working Paper Series AWP-02-2012, Association for Cultural Economics International, revised Feb 2012.
    3. Jun-ichi Itaya & Heinrich Ursprung, 2008. "Price and Death," CESifo Working Paper Series 2213, CESifo Group Munich.
    4. repec:eee:ecmode:v:68:y:2018:i:c:p:340-355 is not listed on IDEAS

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