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Author Ekelund, Robert B. (Robert Burton), 1940-
Title The economics of American art : issues, artists and market institutions / Robert B. Ekelund, Jr., John D. Jackson, Robert D. Tollison.
Imprint New York : Oxford University Press, [2017]

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Author Ekelund, Robert B. (Robert Burton), 1940-
Subject Art -- Economic aspects -- United States.
Alt Name Jackson, John D.,
Tollison, Robert D.,
Description 1 online resource
Summary The Economics of American Art analyzes the most pervasive economic issues facing the art world, applied to the whole spectrum of American art. Both practical and accessible, this book will be essential for collectors, auction houses, American art experts of all kinds, museums, gallery owners and, not least, by economists with continuing scholarly interests in these matters.
Bibliography Note Includes bibliographical references and index.
Contents Cover; Half Title; The Economics of American Art; Copyright; Dedication; Contents; Preface; Chapter 1. Markets, Culture, and American Art; Economics as a Conduit for Analyzing Culture and Art?; Why a Book on the American Art Market?; Credence: A Central Issue Relating Economics to Art; Interesting Questions Posed in the American Art Marketplace; Chapter 2. Dimensions of the American Art Market; The Marketplace of American Art: Early Period; Shifting Demand Parameters; The American Art Market at the Opening of the Twentieth Century; The Armory Show 1913, Stieglitz, and American Modernism.
Postwar Ascendance of American ArtArt, Politics, and Then-Contemporary Art; Changes in the Markets for Contemporary American Art; American Artists Used in Formal Studies in This Book; Artistic Styles; Buying and Selling American Art; Auction Sales of American Art; The Credence Factor and the Auction Market; American Art and Institutional Change; Chapter 3. Mystery of the Artist's Nature: Creativity, Age, and Economics; The Age-Creativity Relation and American Artists; The Artist and Societal Structures; The Economist Speaks; Artists Born Prior to 1900 and the Age-Productivity Hypothesis.
Artists Born between 1900 and 1960 and the Age-Productivity HypothesisMeasurement and Model Specification; Artists Born before 1900; A Fixed-Effects Model; Data on Cohort of Artists Born between 1900 and 1960; A Fixed-Effects Model of Artists Born Post-1900; Is the Growth of "Innovation" Positive through Time?; The Use of Anecdotal or "Bibliometric" Evidence; Anecdotal Analysis of Georgia O'keeffe; Anecdote and Jackson Pollock; Schools and Creativity; Factors Affecting Creativity; Chapter 4. American Art, "Experts," and Auction Institutions; Experts, Credence, and the Auction Process.
Auction Houses and CredenceEstimating Auction Bias; Buyers' and Sellers' Premiums; Estimation Procedure; A Model for Investigating Bias in Presale Auction Estimates; Predicting No-Sales; Are American Paintings That Do Not Sell "Burned"?; Premium Manipulations and Auction-House Profits; Artists and Auction Markets; Chapter 5. Early and Contemporary American Art as Investment Vehicles; American Art as an Investment Vehicle; Art as an Investment: Conventional Wisdom; Returns to American Art Investment; Methodological Considerations; Repeat-Sales versus Hedonic Approaches: Pros and Cons.
Data Considerations in Our Analysis of Early American ArtRepeat-Sales Investment Estimates: Early Period; Hedonic Investment-Return Estimates: Early Sample; Investment-Return Estimates for Contemporary Art; Data Considerations in Our Analysis of Contemporary American Art; Hedonic Results for Contemporary Artists; Repeat-Sales Results; Early American versus Contemporary American Art: Two Distinct Markets; Investment in American Art; Chapter 6. American Art and Illegal Activity: An Economic Perspective; Credence and Information Costs; Art Theft; Art Theft: General Considerations.
Note Description based on print version record.
ISBN 9780190657901 (electronic bk.)
0190657901 (electronic bk.)
OCLC # 992782271
Additional Format Print version: 9780190657895 0190657898 (DLC) 2016052819 (OCoLC)964698417

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