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Sentiment and art prices

Julien Penasse, Luc Renneboog and Christophe Spaenjers

Economics Letters, 2014, vol. 122, issue 3, 432-434

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.

Keywords: Art; Return predictability; Sentiment; Fads (search for similar items in EconPapers)
JEL-codes: G02 G11 Z11 (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations: View citations in EconPapers (27)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:122:y:2014:i:3:p:432-434

DOI: 10.1016/j.econlet.2014.01.008

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