DEA meets Picasso: The impact of auction houses on the hammer price

@article{Frsund2006DEAMP,
  title={DEA meets Picasso: The impact of auction houses on the hammer price},
  author={Finn R. F\orsund and Roberto Zanola},
  journal={Annals OR},
  year={2006},
  volume={145},
  pages={149-165}
}
Employing a hedonic price approach within a framework of central tendencies no conclusive results about the impact of auction houses on final prices of art objects have been found. In order to focus on auction houses as a unit we have applied a benchmarking technique, DEA, developed for efficiency studies. New performance indicators are developed and calculated giving an insight into auction house differences impossible to obtain using hedonic price approach. The performance indicators may also… CONTINUE READING

From This Paper

Figures, tables, and topics from this paper.

References

Publications referenced by this paper.
Showing 1-10 of 16 references

The Art of Benchmarking : Picasso Prints and Auction House Performance

  • F. R. Førsund, R. Zanola
  • Applied Economics
  • 2006
1 Excerpt

The Art of Benchmarking: Picasso Prints and Auction

  • F. R. Førsund
  • Zanola
  • 2006

The Market for Sculptures : An Adjacent Year Regression Index

  • M. Locatelli-Biey
  • 2002

The Monetary Appreciation of Paintings : From Realism to Magritte . ”

  • J. P. Stein
  • Cambridge Journal of Economics
  • 2002

The Monetary Appreciation of Paintings: From Realism

  • L. 1075–1089. Renneboog, T. Van Houtte
  • 2002

Picasso Paintings at Auction , 1963 – 1994

  • M. J. Farrell
  • Journal of Cultural Economics
  • 1997

A Procedure for Ranking Efficient Units in Data Envelopment

  • P. Andersen, N. C. Petersen
  • American Paintings.” Eastern Economic Review,
  • 1993
2 Excerpts

Similar Papers

Loading similar papers…