Disempowering institutional behaviour by exploring the risks associated with investing into the 'fine art' market

Access full-text article here

Tags:

Peer-Reviewed Research

Abstract:

Abstract: This paper examines the role of institutions in the global art market, Due to the asymmetrical distribution of information between art investors and the art institutions, there is uncertainty over the value of 'Fine Art' between those that wish to indirectly manipulate the price of art for the benefit of the institution, and those that wish to invest into the 'Fine Art' market. The value of 'Fine Art' is determined by the 'Value of Information', which has a direct positive relationship between quantity of information that the institution plans to hold, and the amount of uncertainty in the market.