By Fabian Bocart and Christian Hafner

Understanding the behavior of art prices is important to precisely anticipate the financial benefits of owning art. So far, a very common approach in the scientific literature is to assume that all artworks follow a common, deterministic path. What happens if we reverse the perspective assuming that art prices behave randomly?

Continue reading “VOLATILITY OF PRICE INDICES FOR HETEROGENEOUS GOODS WITH APPLICATIONS TO THE FINE ART MARKET” →