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Sentiment and art prices

Author

Listed:
  • Penasse, J.N.G.

    (Tilburg University, School of Economics and Management)

  • Renneboog, L.D.R.

    (Tilburg University, School of Economics and Management)

  • Spaenjers, C.

    (Tilburg University, School of Economics and Management)

Abstract

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.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Penasse, J.N.G. & Renneboog, L.D.R. & Spaenjers, C., 2014. "Sentiment and art prices," Other publications TiSEM 586e6ca3-e77e-43c8-8e95-c, Tilburg University, School of Economics and Management.
    • Handle: RePEc:tiu:tiutis:586e6ca3-e77e-43c8-8e95-c6b7c20ec6ca
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    References listed on IDEAS

    as
    1. Graddy, Kathryn, 2013. "Taste Endures! The Rankings of Roger de Piles (†1709) and Three Centuries of Art Prices," The Journal of Economic History, Cambridge University Press, vol. 73(3), pages 766-791, September.
    2. Luc Renneboog & Christophe Spaenjers, 2013. "Buying Beauty: On Prices and Returns in the Art Market," Management Science, INFORMS, vol. 59(1), pages 36-53, February.
    3. Hiraki, Takato & Ito, Akitoshi & Spieth, Darius A. & Takezawa, Naoya, 2009. "How Did Japanese Investments Influence International Art Prices?," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 44(6), pages 1489-1514, December.
    4. Camerer, Colin, 1989. "Bubbles and Fads in Asset Prices," Journal of Economic Surveys, Wiley Blackwell, vol. 3(1), pages 3-41.
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    Citations

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    Cited by:

    1. Ma, Yongfan & Qi, Tiancheng, 2023. "China mainland art investment: Return and portfolio," Finance Research Letters, Elsevier, vol. 58(PC).
    2. Emmanuel Joel Aikins Abakah & Aviral Kumar Tiwari & Emmanuel Kwesi Arthur & Luis Alberiko Gil-Alana, 2023. "The influence of economic policy uncertainty shocks on art market," Applied Economics, Taylor & Francis Journals, vol. 55(29), pages 3404-3421, June.

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    More about this item

    JEL classification:

    • G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature

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