Articles

Damien Hirst and Jeff Koons share the arts market

From an economist's point of view, the question of the fluctuating value of works of art is intriguing. William Goetzmann, Luc Renneboog, and Christophe Spaenjers tackle the problem, seeking to explain what determines changes to prices in the art market—a market characterized by the singularities of individual buyers and its sensitivity to economic fluctuations.

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How does the information released by an economic player influence the behavior of those watching? (...)

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