Christophe Spaenjers

HEC Paris - Finance Department

1 rue de la Liberation

Jouy-en-Josas Cedex, 78351

France

SCHOLARLY PAPERS

23

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14,043

CITATIONS
Rank 9,095

SSRN RANKINGS

Top 9,095

in Total Papers Citations

87

Scholarly Papers (23)

1.

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 2,270 (5,757)
Citation 1

Abstract:

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

2.
Downloads 2,249 ( 5,848)
Citation 5

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 2,178 (6,037)
Citation 3

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Art market, Equities, Income inequality, Cointegration, Comovement

Art and Money

NBER Working Paper No. w15502
Number of pages: 41 Posted: 17 Nov 2009 Last Revised: 28 Jan 2010
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 71 (328,357)

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3.

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 2,229 (5,941)
Citation 6

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

4.

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 1,082 (19,095)
Citation 2

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

5.

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 869 (26,300)

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

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 829 (28,120)
Citation 2

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

7.

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 682 (36,744)

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

8.

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 545 (49,288)
Citation 1

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

9.

A Model of Trading in the Art Market

American Economic Review, Vol. 108, No. 3, 2018
Number of pages: 73 Posted: 05 Mar 2014 Last Revised: 23 Sep 2018
Stefano Lovo and Christophe Spaenjers
HEC Paris - Finance Department and HEC Paris - Finance Department
Downloads 525 (51,698)
Citation 1

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

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 469 (58,950)
Citation 1

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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 Last Revised: 11 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 30 (476,810)

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11.

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 487 (56,843)

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

12.

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 244 (124,426)
Citation 1

Abstract:

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

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 240 (126,549)
Citation 1

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

14.

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 227 (133,702)

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

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 208 (145,339)

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art; return predictability; sentiment; fads

16.

The Rate of Return on Real Estate: Long-Run Micro-Level Evidence

HEC Paris Research Paper No. FIN-2019-1342
Number of pages: 48 Posted: 25 Jun 2019 Last Revised: 03 Jul 2019
David Chambers, Christophe Spaenjers and Eva Steiner
University of Cambridge - Judge Business School, Department of Finance & Accounting, HEC Paris - Finance Department and Cornell SC Johnson College of Business
Downloads 191 (157,352)

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real estate, property prices, rental yields, long-run returns, idiosyncratic risks

17.

Machine Learning, Human Experts, and the Valuation of Real Assets

HEC Paris Research Paper No. FIN-2019-1332
Number of pages: 35 Posted: 20 Mar 2019 Last Revised: 25 Jun 2019
Mathieu Aubry, Roman Kräussl, Gustavo Manso and Christophe Spaenjers
Ecole Nationale des Ponts et Chaussées (ENPC), Luxembourg School of Finance, University of California, Berkeley - Haas School of Business and HEC Paris - Finance Department
Downloads 190 (158,123)

Abstract:

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asset valuation, auctions, experts, big data, machine learning, computer vision, art

18.

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 179 (166,892)

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

19.

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 163 (181,064)

Abstract:

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

20.

'We'll Always Have Paris': Out-of-Country Buyers in the Housing Market

Kenan Institute of Private Enterprise Research Paper No. 18-25, HEC Paris Research Paper No. FIN-2018-1311
Number of pages: 53 Posted: 06 Oct 2018 Last Revised: 25 Oct 2018
Dragana Cvijanovic and Christophe Spaenjers
University of North Carolina Kenan-Flagler Business School and HEC Paris - Finance Department
Downloads 125 (224,585)
Citation 3

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foreign home buyers; secondary residences; search costs; private valuations

21.

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 Last Revised: 14 Mar 2018
Richard B. Evans, Roman Kräussl, Pedro Matos and Christophe Spaenjers
University of Virginia - Darden School of Business, Luxembourg School of Finance, University of Virginia - Darden School of Business and HEC Paris - Finance Department
Downloads 7 (597,479)
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investment asset, art, illiquid assets, investment vehicles, video

22.

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

Economics Letters, Vol. 156, July 2017
Number of pages: 8 Posted: 07 Jun 2016 Last Revised: 23 Sep 2018
Stefano Lovo and Christophe Spaenjers
HEC Paris - Finance Department and HEC Paris - Finance Department
Downloads 3 (625,569)

Abstract:

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

23.

The Iconic Boom in Modern Russian Art

Journal of Alternative Investments, Vol. 13, No. 3, 2011, https://doi.org/10.3905/jai.2011.13.3.067
Posted: 22 May 2019
Luc Renneboog and Christophe Spaenjers
Tilburg University - Department of Finance and HEC Paris - Finance Department

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Art, Emerging markets, Hedonic regressions, Wealth