The Market for Picasso Prints: A Hybrid Model Approach

Marilena Biey () and Roberto Zanola
Authors registered in the RePEc Author Service: Marilena Locatelli

Journal of Cultural Economics, 2005, vol. 29, issue 2, 127-136

Abstract: Two basic approaches have been used by the literature focusing on the return to holding artistic works: the hedonic price model and the repeat-sales model. This paper provides a procedure for jointly estimating the two models in a way that take advantages of the unique information contained in each. A semiannual price index for Picasso prints is estimated by using a model derived from the basic framework of the hybrid models. The empirical results suggest that the hybrid model provides the most precisely estimated price index by reducing the level of price volatility. Copyright Springer Science + Business Media, Inc. 2005

Keywords: prints; Picasso; hedonic prices; repeat sales; rate of return; hybrid models (search for similar items in EconPapers)
Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

Downloads: (external link)
http://hdl.handle.net/10.1007/s10824-005-8133-x (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:jculte:v:29:y:2005:i:2:p:127-136

Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/10824/PS2

DOI: 10.1007/s10824-005-8133-x

Access Statistics for this article

Journal of Cultural Economics is currently edited by Federico Etro and Douglas Noonan

More articles in Journal of Cultural Economics from Springer, The Association for Cultural Economics International Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().