| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5841 |
| DP5841 Multinationals' Productivity Advantage: Scale or Technology | |
| Sourafel Girma; Holger Görg | |
| 发表日期 | 2006-09-17 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | This paper presents an empirical study of paintings that have failed to meet their reserve price at auction. In the art trade it is often claimed that when an advertised item goes unsold at auction, its future value will be affected. We have constructed a new dataset specifically for the purpose of testing this proposition. To preview our results, we find that paintings that come to auction and failed return significantly less when they are eventually sold than those paintings that have not been advertised at auction between sales. These lower returns may occur because of common value effects, idiosyncratic downward trends in tastes, or changes in the seller's reserve price. |
| 主题 | Industrial Organization |
| 关键词 | Reserve prices Burning Bought-in Art Auctions |
| URL | https://cepr.org/publications/dp5841 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534680 |
| 推荐引用方式 GB/T 7714 | Sourafel Girma,Holger Görg. DP5841 Multinationals' Productivity Advantage: Scale or Technology. 2006. |
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