haku: @indexterm ART / yhteensä: 76
viite: 39 / 76
| Tekijä: | Ekelund, R. |
| Otsikko: | Estimates, bias and "no sales" in Latin-American art auctions, 1977-1996 |
| Lehti: | Journal of Cultural Economics
1998 : VOL. 22:1, p. 33-42 |
| Asiasana: | ECONOMICS CULTURE ART AUCTIONS |
| Kieli: | eng |
| Tiivistelmä: | Estimate bias and "no sales" are investigated in the context of Latin American Art auctions conducted in New York between 1977 and 1996. The authors find that, using a new method for calculating bias, both Sotheby and Christie's overestimated art (oil-on-canvas pieces) by 2.7 percent. The inclusion of "no sales" raises that proportion to a full one-third of the art traded. Utilizing a binomial probit analysis, moreover, the authors find that the estimate "window" is negatively and significantly related to the likelihood of a "no sale" at auction. |
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