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Art Critic Index: A Proxy for Cultural Value in the Context of the South Africa Art Market

Author

Listed:
  • Catherine Kannemeyer
  • Matthew Olckers
  • Michael Stevenson

Abstract

This study creates a proxy for cultural value by constructing an Art Critic Index (ACI). Cultural value is a distinct and alternative concept of value that is used to understand the art market. The ACI is formed by analysing survey books on South African art. Using a hedonic regression model a positive relationship is found […]

Suggested Citation

  • Catherine Kannemeyer & Matthew Olckers & Michael Stevenson, 2015. "Art Critic Index: A Proxy for Cultural Value in the Context of the South Africa Art Market," Working Papers 500, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:500
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    File URL: https://econrsa.org/wp-content/uploads/2022/06/working_paper_500.pdf
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    Cited by:

    1. Binge, Laurie H. & Boshoff, Willem H., 2021. "Measuring alternative asset prices in an emerging market: The case of the South African art market," Emerging Markets Review, Elsevier, vol. 47(C).

    More about this item

    Keywords

    art market; Group Behavior; South Africa;
    All these keywords.

    JEL classification:

    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature

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