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The ``Death-Effect'' in Art Prices: A Demand-Side Exploration

Robert Ekelund (), Rand Ressler () and John Watson

Journal of Cultural Economics, 2000, vol. 24, issue 4, 283-300

Abstract: Many factors affect the supply and demand characteristics of artists' output.This exploratory study focuses on a ``supply-induced'' demand effect –the death of the artist and the assurance that, from the perspective of thedurable goods monopolist, the output of the artist ends. While not purportingto be a formal test of that proposition, we observe, using U.S. auction data,a clustered rise in artists' values immediately around the time of death andsuggest some possible demand-side explanations using a sample of LatinAmerican artists between 1977 and 1996. Copyright Kluwer Academic Publishers 2000

Keywords: art prices; auction markets; Latin American art (search for similar items in EconPapers)
Date: 2000
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Handle: RePEc:kap:jculte:v:24:y:2000:i:4:p:283-300