Download This PaperSentiment and Art Prices
9 Pages Posted: 26 Feb 2020
Date Written: January 10, 2014
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.
Keywords: art; return predictability; sentiment; fads
JEL Classification: G02; G11; Z11
Suggested Citation: Suggested Citation
Pénasse, Julien and Renneboog, Luc and Spaenjers, Christophe, Sentiment and Art Prices (January 10, 2014). Economics Letters, Vol. 122, No. 3, 2014, Available at SSRN: https://ssrn.com/abstract=2377401
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