Christophe Spaenjers

HEC Paris - Finance Department

1 rue de la Liberation

Jouy-en-Josas Cedex, 78351

France

SCHOLARLY PAPERS

21

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12,032

CITATIONS
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SSRN RANKINGS

Top 16,371

in Total Papers Citations

21

Scholarly Papers (21)

1.
Downloads 2,024 ( 5,595)
Citation 4

Art and Money

Yale ICF Working Paper No. 09-26, TILEC Discussion Paper No. 2010-002, CentER Discussion Paper Series No. 2010-08
Number of pages: 34 Posted: 07 Nov 2009 Last Revised: 13 Mar 2013
William N. Goetzmann, Luc Renneboog and Christophe Spaenjers
Yale School of Management - International Center for Finance, Tilburg University - Department of Finance and HEC Paris - Finance Department
Downloads 1,970 (5,706)
Citation 4

Abstract:

Art market, Equities, Income inequality, Cointegration, Comovement

Art and Money

NBER Working Paper No. w15502
Number of pages: 41 Posted: 17 Nov 2009
William N. Goetzmann, Luc Renneboog and Christophe Spaenjers
Yale School of Management - International Center for Finance, Tilburg University - Department of Finance and HEC Paris - Finance Department
Downloads 54 (326,612)
Citation 4

Abstract:

2.

Buying Beauty: On Prices and Returns in the Art Market

Management Science, Vol. 59, No. 1, 2013
Number of pages: 33 Posted: 03 Mar 2009 Last Revised: 13 Mar 2013
Luc Renneboog and Christophe Spaenjers
Tilburg University - Department of Finance and HEC Paris - Finance Department
Downloads 1,415 (6,433)
Citation 6

Abstract:

art, auctions, hedonic regressions, investments, repeat-sales regressions, sentiment

3.

The Price of Wine

Journal of Financial Economics (JFE), Vol. 118, No. 2, 2015, pages 431–449,
Number of pages: 50 Posted: 07 Sep 2013 Last Revised: 19 Mar 2016
Elroy Dimson, Peter L. Rousseau and Christophe Spaenjers
University of Cambridge - Judge Business School, Vanderbilt University - Department of Economics and HEC Paris - Finance Department
Downloads 1,204 (5,921)

Abstract:

wine prices; alternative investments; price indexes; psychic return; bubbles

4.

Ex Post: The Investment Performance of Collectible Stamps

Journal of Financial Economics (JFE), Vol. 100, No. 2, 2011, pages 443–458,
Number of pages: 40 Posted: 06 Aug 2009 Last Revised: 20 Mar 2016
Elroy Dimson and Christophe Spaenjers
University of Cambridge - Judge Business School and HEC Paris - Finance Department
Downloads 746 (24,103)
Citation 4

Abstract:

Alternative investments, Indexes, Long-term returns, Philately, Stamps

5.

The Investment Performance of Art and Other Collectibles

Chapter 10 of Anna Dempster (Ed), Risk and Uncertainty in the Art World, Bloomsbury Publishing, 2014, pages 219–238,
Number of pages: 19 Posted: 02 Sep 2013 Last Revised: 19 Mar 2016
Elroy Dimson and Christophe Spaenjers
University of Cambridge - Judge Business School and HEC Paris - Finance Department
Downloads 713 (19,241)

Abstract:

alternative investments, collectibles, luxury goods, price indexes, investment risks

6.

Religion, Economic Attitudes, and Household Finance

Oxford Economic Papers, Vol. 64, No. 1, 2012
Number of pages: 30 Posted: 19 May 2009 Last Revised: 13 Mar 2013
Luc Renneboog and Christophe Spaenjers
Tilburg University - Department of Finance and HEC Paris - Finance Department
Downloads 637 (26,317)
Citation 3

Abstract:

Religion, Economic attitudes, Household finance, Culture, Portfolio choice

The Economics of Aesthetics and Record Prices for Art since 1701

Explorations in Economic History, Vol. 57, 2015
Number of pages: 38 Posted: 12 Aug 2014 Last Revised: 18 Jan 2016
Christophe Spaenjers, William N. Goetzmann and Elena Mamonova
HEC Paris - Finance Department, Yale School of Management - International Center for Finance and Independent
Downloads 378 (64,136)

Abstract:

art; auctions; price formation; price indexes; private values; record prices

The Economics of Aesthetics and Three Centuries of Art Price Records

NBER Working Paper No. w20440
Number of pages: 26 Posted: 03 Sep 2014
William N. Goetzmann, Elena Mamonova and Christophe Spaenjers
Yale School of Management - International Center for Finance, Independent and HEC Paris - Finance Department
Downloads 19 (473,378)

Abstract:

8.

Hard Assets: The Returns on Rare Diamonds and Gems

Finance Research Letters, Vol. 9, No. 4, 2012
Number of pages: 16 Posted: 26 May 2011 Last Revised: 13 Mar 2013
Luc Renneboog and Christophe Spaenjers
Tilburg University - Department of Finance and HEC Paris - Finance Department
Downloads 395 (54,084)
Citation 2

Abstract:

alternative investments; auctions, diamonds, gems, hedonic regression, luxury goods

9.

The Iconic Boom in Modern Russian Art

Journal of Alternative Investments, Vol. 13, No. 3, 2011
Number of pages: 26 Posted: 05 Sep 2009 Last Revised: 13 Mar 2013
Luc Renneboog and Christophe Spaenjers
Tilburg University - Department of Finance and HEC Paris - Finance Department
Downloads 330 (53,311)
Citation 1

Abstract:

Art, Emerging markets, Hedonic regressions, Wealth

10.

Investing in Emotional Assets

Financial Analysts Journal, Vol. 70, No. 2, 2014, pages 18–22,
Number of pages: 10 Posted: 31 Jan 2014 Last Revised: 19 Mar 2016
Elroy Dimson and Christophe Spaenjers
University of Cambridge - Judge Business School and HEC Paris - Finance Department
Downloads 302 (41,272)

Abstract:

alternative investments, collectibles, luxury goods, price indexes, investment risks

11.

The Dutch Grey Market

De Economist, Vol. 159, No. 1, 2011
Number of pages: 22 Posted: 22 Oct 2008 Last Revised: 13 Mar 2013
Luc Renneboog and Christophe Spaenjers
Tilburg University - Department of Finance and HEC Paris - Finance Department
Downloads 162 (145,856)
Citation 1

Abstract:

Capital markets, Law of one price, Stock splits, When-issued trading

12.

Subjective Life Horizon and Portfolio Choice

Journal of Economic Behavior and Organization, Vol. 116, 2015
Number of pages: 34 Posted: 12 Jan 2013 Last Revised: 16 Jan 2016
Christophe Spaenjers and Sven Michael Spira
HEC Paris - Finance Department and HEC Paris - Finance Department
Downloads 154 (162,198)

Abstract:

portfolio choice, investment horizon, subjective expectations, life expectancy, bequests

13.

Organizational and Epistemic Change: The Growth of the Art Investment Field

Accounting, Organizations and Society 55, 48-62
Number of pages: 46 Posted: 07 Sep 2013 Last Revised: 26 Apr 2017
Erica Coslor and Christophe Spaenjers
University of Melbourne - Department of Management and Marketing and HEC Paris - Finance Department
Downloads 100 (123,681)

Abstract:

Accounting and financial knowledge claims; Art investment; Epistemic cultures; Performance measurement; Technical fields; Valuation practices

14.

A Model of Trading in the Art Market

American Economic Review, Forthcoming
Number of pages: 73 Posted: 05 Mar 2014 Last Revised: 18 Oct 2017
Stefano Lovo and Christophe Spaenjers
HEC Paris - Finance Department and HEC Paris - Finance Department
Downloads 99 (92,683)

Abstract:

art; auctions; endogenous trading; price indexes; private values; returns

15.

Sentiment and Art Prices

Economics Letters, Vol. 122, No. 3, 2014
Number of pages: 9 Posted: 11 Jan 2014 Last Revised: 30 Jan 2014
Julien Penasse, Luc Renneboog and Christophe Spaenjers
University of Luxembourg, Tilburg University - Department of Finance and HEC Paris - Finance Department
Downloads 99 (149,765)

Abstract:

art; return predictability; sentiment; fads

16.

Investment Returns and Economic Fundamentals in International Art Markets

Cosmopolitan Canvases, Oxford University Press, 2015
Number of pages: 25 Posted: 25 Feb 2014 Last Revised: 18 Jan 2016
Luc Renneboog and Christophe Spaenjers
Tilburg University - Department of Finance and HEC Paris - Finance Department
Downloads 77 (135,252)

Abstract:

economics of art, art markets, home bias, geographical market segmentation, art auctions, hedonic regression

17.

Real Estate as a Luxury Good: Non-Resident Demand and Property Prices in Paris

Number of pages: 31 Posted: 08 Jan 2015 Last Revised: 24 Feb 2017
Dragana Cvijanovic and Christophe Spaenjers
University of North Carolina Kenan-Flagler Business School and HEC Paris - Finance Department
Downloads 74 (115,032)

Abstract:

housing markets; secondary residences; luxury consumption; trophy assets

18.

Art as an Asset: Evidence from Keynes the Collector

Number of pages: 32 Posted: 09 Sep 2015 Last Revised: 30 Aug 2017
David Chambers, Elroy Dimson and Christophe Spaenjers
University of Cambridge - Judge Business School, Department of Finance & Accounting, University of Cambridge - Judge Business School and HEC Paris - Finance Department
Downloads 73 (85,740)

Abstract:

alternative investments; art; portfolios; price indexes; indivisible assets; concentration

19.

The Fine Art of Financing: The Jpmorgan Private Bank and Lending Against Art

Darden Case No. UVA-F-1760
Number of pages: 15 Posted: 30 May 2017
Richard B. Evans, Pedro P. Matos, Christophe Spaenjers and Roman Kräussl
University of Virginia - Darden School of Business, University of Virginia - Darden School of Business, HEC Paris - Finance Department and Luxembourg School of Finance
Downloads 0 (568,998)
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Abstract:

investment asset, art, illiquid assets, investment vehicles

20.

No-Trade in Second-Price Auctions with Entry Costs and Secret Reserve Prices

Economics Letters, Forthcoming
Posted: 07 Jun 2016 Last Revised: 10 May 2017
Stefano Lovo and Christophe Spaenjers
HEC Paris - Finance Department and HEC Paris - Finance Department
Downloads 0 (568,998)

Abstract:

auctions; entry; participation costs; reserve prices; no-trade equilibria

21.

The Long-Term Returns to Durable Assets

HEC Paris Research Paper No. FIN-2016-1143
Number of pages: 11 Posted: 12 Mar 2016 Last Revised: 26 Apr 2016
Christophe Spaenjers
HEC Paris - Finance Department
Downloads 0 (150,520)

Abstract:

returns; housing; land; art, collectibles; gold; silver; diamonds