Home is where your art is: the home bias of art collectors

Lasse Steiner, Bruno Frey and Magnus Resch

No 135, ECON - Working Papers from Department of Economics - University of Zurich

Abstract: This paper analysis the global distribution of art collections and collectors´ biases with respect to the origin of artworks. Employing a unique dataset we find that the greatest number of private art collections are located in Europe, North America and Asia. There are relatively few collections in Latin America and Africa. The artists whose oeuvres dominate the markets for collected art come from North America, followed by Asian and European artists. The home bias in private art collections turns out to be strong in all continents and countries. It is highest for Asian and African collections and smaller for European and North American collections. The home bias can partly be accounted for by high export and import restrictions.

Keywords: Art collection; home bias; trade restrictions; artists (search for similar items in EconPapers)
JEL-codes: F14 K20 Z11 (search for similar items in EconPapers)
Date: 2013-11
New Economics Papers: this item is included in nep-cul, nep-int, nep-lam and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:zur:econwp:135

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