par Chanel, Olivier;Gérard-Varet, Louis-André;Ginsburgh, Victor 
Référence Geneva papers on risk and insurance, 19, 1, page (7-21)
Publication Publié, 1994
Référence Geneva papers on risk and insurance, 19, 1, page (7-21)
Publication Publié, 1994
Article révisé par les pairs
| Résumé : | Art is priceless, but paintings, and other objects, have been sold on markets since the time of the Roman Empire. In this paper, we describe a method for constructing a price index for paintings and compare this index to the indices of various financial markets. In particular, we discuss whether the price of art is related to financial markets, whether the art market is weakly efficient, and whether it is more or less risky than financial markets. |
