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The Economics of American art : issues, artists and market institutions

Author: Robert B Ekelund; John D Jackson; Robert D Tollison
Publisher: New York : Oxford University Press, 2017
Edition/Format:   eBook : Document : English
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Genre/Form: Llibres electrònics
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Robert B Ekelund; John D Jackson; Robert D Tollison
OCLC Number: 1120547373
Notes: The Economics of American Art focuses solely on critical economic aspects of the full range of American art (as opposed to art produced and traded in the United States). After a brief introduction to the history of this market, simple economics in both narrative and statistical form is used to plumb a number of important topics and issues. Using a unique sample of 14,000 art auction observations between 1987 and 2013 of eighty American artists born before 1950, several important topics related to art and the marketplace are examined. These include such matters as the age at which artists achieve peak productivity. Further, the authors query whether the undeniably “innovative” art being produced in the United States today is partially related to marketing and modern selling techniques rather than the age-related link most often offered as explanation. Marketing techniques and the “fairness” of auction house estimates are evaluated in this regard. Other aspects of the auction marker, such as “bought-ins” and “burning,” are also addressed. The authors show statistically that there are two basic markets for American art: that produced prior to 1950 and that (post-1950) labeled “contemporary.” Investment in the latter, the authors conclude, may be far more remunerative. The disturbing issues of art crime, money laundering with art, fakes, and fraud are analyzed, with the costs and benefits of such activities in mind, as are the issues of the impact of an artist’s death and the appearance of bubbles in the art market.
Description: 1 recurs en línia (1 recurs en línia (iv, 349 pàgines))
Responsibility: Robert B. Ekelund Jr., John D. Jackson, and Robert D. Tollison.

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