Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/159451
Authors: 
Collins, Alan
Scorcu, Antonello Eugenio
Zanola, Roberto
Year of Publication: 
2007
Series/Report no.: 
Quaderni - Working Paper DSE 610
Abstract: 
The uniqueness of art objects need to be taken into account in the construction of any art market price index. Yet the most widely used methods typically rely on biased samples, discarding a very large proportion of the information available (the repeated sales approach) and/or require strong assumptions regarding the structure and time stability of the market (the hedonic regression approach). In this paper a refined hedonic index is developed that explicitly addresses these problems. An empirical illustration comparing these methods is presented using a dataset of symbolist paintings appearing at auction over the period 1990-2001.
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by-nc/3.0/
Document Type: 
Working Paper

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