The economics of American art : issues, artists and market institutions / Robert B. Ekelund, Jr., John D. Jackson, and Robert D. Tollison.

The economics of American art : issues, artists and market institutions / Robert B. Ekelund, Jr., John D. Jackson, and Robert D. Tollison.

9780190657925 (electronic book)

New York, NY : Oxford University Press, 2017.

English

1 online resource : illustrations.

N8600 .E39 2017

701.03

The rapidly changing and evolving art market might appear to be chaotic to the casual observer, with new highs, potential lows, and tastes and fashions changing season to season. Economists, however, view the actions of buyers and sellers as constituting an identifiable market. They have, for some decades, studied such issues as artistic productivity and 'death effects' on prices, investment returns, and on the basis of the behaviour and estimated prices in auction markets. 'The Economics of American Art' analyzes the most pervasive economic issues facing the art world, applied to the whole spectrum of American art. The work begins by looking at how a market for American art developed, how the politics of the post-war era shaped, at least in large part, the direction of American art, and how this legacy continues into contemporary art today.

The rapidly changing and evolving art market might appear to be chaotic to the casual observer, with new highs, potential lows, and tastes and fashions changing season to season. Economists, however, view the actions of buyers and sellers as constituting an identifiable market. They have, for some decades, studied such issues as artistic productivity and 'death effects' on prices, investment returns, and on the basis of the behaviour and estimated prices in auction markets. 'The Economics of American Art' analyzes the most pervasive economic issues facing the art world, applied to the whole spectrum of American art. The work begins by looking at how a market for American art developed, how the politics of the post-war era shaped, at least in large part, the direction of American art, and how this legacy continues into contemporary art today.

Includes bibliographical references and index.

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Description based on online resource; title from home page (viewed on June 19, 2017).

Print version: 9780190657895

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