The "Death-Effect" on Collectible Prices
It has been widely observed that the price of celebrity memorabilia rises around the time of that person's death. Previous authors attribute this "death-effect" primarily to expectations on the part of collectors concerning the future supply of collectibles about the public figure as in the case of a durable goods monopolist. Our observations of the sports memorabilia market suggest that the increase in prices is instead due to a "nostalgia effect" as a result of the media attention that surrounds the death of a prominent public figure.
|Date of creation:||May 2003|
|Publication status:||published in Applied Economics, June 2004, v. 36, iss. 11, pp. 1151-55.|
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- Benjamin J. Burton & Joyce P. Jacobsen, 1999. "Measuring Returns on Investments in Collectibles," Journal of Economic Perspectives, American Economic Association, vol. 13(4), pages 193-212, Fall.
- Coase, Ronald H, 1972. "Durability and Monopoly," Journal of Law and Economics, University of Chicago Press, vol. 15(1), pages 143-149, April.
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