Sentiment and art prices

Julien Penasse, Luc Renneboog and Christophe Spaenjers

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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)
Date: 2014-03
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Citations: View citations in EconPapers (25)

Published in Economics Letters, 2014, 122 (3), pp.432-434. ⟨10.1016/j.econlet.2014.01.008⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00982427

DOI: 10.1016/j.econlet.2014.01.008

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