Articles

Sentiment and Art Prices Records

J. PENASSE, L. RENNEBOOG, C. SPAENJERS

Economics Letters

March 2014, vol. 122, n°3, pp.432-434

Departments: Finance, GREGHEC (CNRS)

Keywords: Art, Return predictability, Sentiment, Fads

http://ssrn.com/abstract=2377401


We hypothesize the existence of a slow-moving fad component in art prices. Using unique panel survey data on art market participants’ confidence levels in the outlook for a set of artists, we find that sentiment indeed predicts short-term returns


JavaScriptSettings