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| Author: | Locatelli, M. Zanola, R. |
| Title: | The market for Picasso prints: A hybrid model approach |
| Journal: | Journal of Cultural Economics
2005 : MAY, VOL. 29:2, p. 127-136 |
| Index terms: | Arts Models Rate of return Price indices Volatility |
| Language: | eng |
| Abstract: | This paper focuses on combining two approaches traditionally used by the literature concentrating on the return to holding artistic works: the hedonic price model and the repeat-sales model.A model derived from the basic framework of the hybrid models is used to estimate a semiannual price index for Picasso prints. the findings indicate that the hybrid model provides the most accurately estimated price index by reducing the level of price volatility |
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