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Sentiment and art prices

Penasse,J.N.G.
; 
Renneboog,L.D.R.
; 
Spaenjers,C.
Abstract
We hypothesize the existence of a slow-moving fad component in art prices. Using unique panel survey data on art market participants’ confidence levels in the outlook for a set of artists, we find that sentiment indeed predicts short-term returns.
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2014-03
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Tilburg University Research Output Collection
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Keywords
Art, return predictability, sentiment, fads, G02 - Behavioral Finance: Underlying Principles, G11 - Portfolio Choice ; Investment Decisions, Z11 - Economics of the Arts and Literature
Citation
Penasse, J N G, Renneboog, L D R & Spaenjers, C 2014, 'Sentiment and art prices', Economics Letters, vol. 112, no. 3, pp. 432-434. https://doi.org/10.1016/j.econlet.2014.01.008
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https://hdl.handle.net/20.500.14602/61227
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