Christophe Spaenjers

TL;DR: Xiong et al. as discussed by the authors applied a hedonic regression analysis to a new data set of more than one million auction transactions of paintings and works on paper, and concluded that art has appreciated in value by a moderate 3.97% per year, in real U.S. dollar terms, between 1957 and 2007.

TL;DR: The resulting price index concludes that art has appreciated in value by a moderate 3.97% per year, in real U.S. dollar terms, between 1957 and 2007, similar to that of corporate bonds---at much higher risk.

TL;DR: This paper investigated the differences in economic attitudes and financial decisions between religious and non-religious households and found that religious households consider themselves more trusting, and have a stronger bequest motive and a longer planning horizon, while Protestants combine a more external locus of control with a greater sense of financial responsibility.

TL;DR: The authors investigate the differences in economic attitudes and financial decisions between religious and non-religious households using Dutch survey data, and find that religious households consider themselves more trusting, and have a stronger bequest motive and a longer planning horizon Furthermore, Catholics attach more importance to thrift and are more risk averse, while Protestants combine a more external locus of control with a greater sense of financial responsibility.

TL;DR: In this paper, the authors investigated the impact of equity markets and top incomes on art prices and found that both same-year and lagged equity market returns have a significant impact on the price level in the art market.