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  • art auction  (1)
  • price dispersions  (1)
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  • 1
    Electronic Resource
    Electronic Resource
    A Note on Elasticity and Price Dispersions in the Music Recording Industry (2000)
    Springer
    Review of industrial organization 17 (2000), S. 465-470 
    Details
    ISSN: 1573-7160
    Keywords: Elasticity ; music recording industry ; oligopoly ; price dispersions
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The present note examines price dispersions inthe music recording industry between new release andmid-line (older) recordings. The model employs theframework developed within the industrial economicsliterature and provides empirical results suggestingthat new release prices are lower than those ofmid-level recordings. This result follows fromdiffering buyer characteristics and varying levelsof close substitutes, leading to higher demandelasticities for new release recordings. Finally,the theoretical expectations should hold in thepresence of either significant scale economies ormodest minimum efficient scales of production.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1007820616596
    Library Location Call Number Volume/Issue/Year Availability
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    Paper (German National Licenses)
    Fulltext
  • 2
    Electronic Resource
    Electronic Resource
    Estimates, Bias and “No Sales” in Latin-American Art Auctions, 1977–1996 (1998)
    Springer
    Journal of cultural economics 22 (1998), S. 33-42 
    Details
    ISSN: 1573-6997
    Keywords: art auction ; Latin American art ; bias
    Source: Springer Online Journal Archives 1860-2000
    Topics: Art History , Economics
    Notes: Abstract Estimate bias and “no-sales” are investigated in the context of Latin American Art auctions conducted in New York between 1977 and 1996. We find that, using a new method for calculating bias, both Sotheby's and Christie's overestimated art (oil-on-canvas pieces) by 2.7 percent. The inclusion of “no-sales” raises that proportion to a full one-third of the art traded. Utilizing a binomial probit analysis, moreover, we find that the estimate “window” is negatively and significantly related to the likelihood of a “no sale” at auction.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1007471016277
    Library Location Call Number Volume/Issue/Year Availability
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    Paper (German National Licenses)
    Fulltext
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