Научный семинар ИНИИ "Peer effects in art prices"
Докладчик: Мария Марченко (доцент института экономики труда Венского Экономического Университета)
Art is quite often considered as an investment. However, the prices for some of the pieces are not easy to predict. The reputation of the artists and their social connections can play a significant role in determining the prices of their work. I check the hypothesis of possible positive effect on the prices of art pieces when the artist is connected to higher valued or more famous peer. I base my results on the network of the abstract artist, for which it is sometimes too difficult to distinguish between good and bad work, and the prices of their works in the last 15 years at Sotheby's auctions. The preliminary results suggest that the consumers are willing to pay more for a particular artist's work, once this artist is connected to a more valuable set of peers. The auctioneer predictions exhibit opposite trend, suggesting possible substitutability of the works of connected artists. The discussed setting can also be applied to the broader set of professions with flexible monetary rewards, that might be dependent on the reputation of the specialists.
Адрес: Славянская пл., д. 4, стр. 2, комната 101-102
Дата и время: 7 декабря 2017 года, 16:00
Рабочий язык: английский
Мероприятие осуществляется в рамках программы HSE Alumni Academic Fellowship.
Заказать пропуск можно письмом на firstname.lastname@example.org до 13:00 7 декабря 2017.