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The law of one price, noise and “irrational exuberance”: the auction market for Picasso prints
5 references·6 citing·38 second hop
The law of one price, noise and “irrational exuberance”: the auction market for Picasso prints (2007)The law of one price, noise and “irration…The Market for Picasso Prints: A Hybrid Model Approach (2005)The Market for Picasso Prints…Art as an Investment and the Underperformance of Masterpieces (2002)Art as an Investment and the …Economics of the Arts (1996)Economics of the ArtsArt as an investment: The market for modern prints (1993)Art as an investment: The mar…Prices of Single Family Homes Since 1970: New Indexes for Four Cities (1987)Prices of Single Family Homes…China mainland art investment: Return and portfolio (2023)China mainland art investment…A place for everything and everything in its place: New York's role in the art market (2021)A place for everything and ev…The Investment Performance of Art in Mainland China (2017)The Investment Performance of…Testing for bubbles in the art markets: An empirical investigation (2017)Testing for bubbles in the ar…Horizon analysis of art investments: Evidence from the Chinese market (2016)Horizon analysis of art inves…Random walk theory and the weak-form efficiency of the US art auction prices (2009)Random walk theory and the we…Unnatural Value: Or Art Investment as Floating Crap Game (1985)Accounting for taste: Art and the financial markets over three centuries (1993)Auctions and the Price of Art (2003)Art as an Investment and Conspicuous Consumption Good (2009)Art and Money (2011)A Regression Method for Real Estate Price Index Construction (1963)Vertical Integration, Appropriable Rents, and the Competitive Contracting Process (1978)An Evolutionary Theory of Economic Change. (1983)Chapter 26 Art Auctions (2006)Price determinants of Aboriginal art, and its role as an alternative asset class (2010)The General Theory of Employment, Interest and Money. (1936)Efficient Capital Markets: A Review of Theory and Empirical Work (1970)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Investment intensity of currencies and the random walk hypothesis: Cross-currency evidence (2010)Managerial Discretion in Accruals and Informational Efficiency (2017)Market efficiency in the art markets using a combination of long memory, fractal dimension, and approximate entropy measures (2021)Buying Beauty: On Prices and Returns in the Art Market (2012)Testing for Bubbles in the Chinese Art Market (2020)Art for art’s sake? An exploration of the Chinese art market (2021)Earnings management and the performance of seasoned equity offerings1I gratefully acknowledge the comments and suggestions of Philip Berger, Patricia Dechow, Kenneth Gaver (the referee), Robert Holthausen, Wayne Mikkelson (the editor), and Richard Sloan. I also thank Andrew Alford, Brad Barber, Randolph Beatty, Ilia Dichev, Paul Fisher, Gary Gorton, Paul Griffin, David Larcker, Mark Low, Patricia O'Brien, Madhav Rajan, Jay Ritter, Mark Vargus, Robert Verrecchia, Franco Wong, and workshop participants at the 1996 American Accounting Association meetings, Columbia University, Emory University, INSEAD, London Business School, MIT, New York University, Northwestern University, Purdue University, University of California at Davis, University of Chicago, University of Michigan, University of Minnesota, University of Pennsylvania, and Yale University for useful comments. I am indebted to Mark Vargus for access to his FORTRAN sub-routines. Errors and omissions are my responsibility.1 (1998)Home bias in domestic art markets: Evidence from China (2017)Dynamics of the Turkish paintings market: A comprehensive empirical study (2018)Do Stock Prices Move Too Much to be Justified by Subsequent Changes in Dividends? (1980)A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle (1989)The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis (1989)Reading between the lines in the art market: Lack of transparency and price heterogeneity as an indicator of multiple equilibria (2021)The potential of alternative investments as an asset class: a thematic and bibliometric review (2022)Male-Female Wage Differentials in Urban Labor Markets (1973)Wage Discrimination: Reduced Form and Structural Estimates (1973)The Global City (2001)The Behavior of Home Buyers in Boom and Post-Boom Markets (1988)Derivative Pricing with Liquidity Risk: Theory and Evidence from the Credit Default Swap Market (2011)Recourse and Residential Mortgage Default: Evidence from US States (2011)Evaluating Cultural Property: The Economic Approach (1997)Should Cultural Goods Be Treated Differently? (1999)Three Forms of the Knowledge Economy: Learning, Creativity and Openness (2010)Entertainment industry economics: a guide for financial analysis (2007)Anchoring Effects: Evidence from Art Auctions (2009)
this work references cited by second hop

References

  • 1987Prices of Single Family Homes Since 1970: New Indexes for Four Cities551 cited
  • 2002Art as an Investment and the Underperformance of Masterpieces539 cited
  • 1993Art as an investment: The market for modern prints335 cited
  • 2005The Market for Picasso Prints: A Hybrid Model Approach64 cited
  • 1996Economics of the Arts28 cited

Cited by

  • 2009Random walk theory and the weak-form efficiency of the US art auction prices51 cited
  • 2017Testing for bubbles in the art markets: An empirical investigation25 cited
  • 2017The Investment Performance of Art in Mainland China20 cited
  • 2016Horizon analysis of art investments: Evidence from the Chinese market16 cited
  • 2021A place for everything and everything in its place: New York's role in the art market6 cited
  • 2023China mainland art investment: Return and portfolio4 cited

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