Canvases Price Indexes Forecasting

Student: Antipina Sofia

Educational Programme: Economics and Statistics (Bachelor)

Year of Graduation: 2017

The main purpose of this work is to construct a price index based on a sample of six world-known artists canvases. In these research the 297 canvases will be analyzed. It is studied the possibility to analize art-market trend using Heckman model approach. The inclusion of unsold paintings in the sample and Heckman model estimation allows to test the assumption of the importance of self-selection effect. The constuction of price indexes let analyze and compare rates of return in the art market and financial market.

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