Abstract
In recent years, the art market experienced a price explosion for paintings. Frey and Cueni shed light on the reasons for the price increase, on the rate of return in the art market, on the emergence and decline of art hedge funds, and on the risks of art investments.
About the authors
Bruno S. Frey is Professor of Economics at the Zeppelin University in Friedrichshafen (Germany). In addition, he is director of the Center for Research in Economics, Management and the Arts (CREMA), Basel, Switzerland. His research analyzes the economics of art and culture, the use of awards, and the economics of happiness.
Reto Cueni is a Doctoral Student and Lecturer at the University of Zurich, Switzerland. He focuses on empirical research on herding behavior in different markets, such as the art or the financial market.
References and Further Reading
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