The art of benchmarking: Picasso prints and auction house performance

Finn R. Førsund; Roberto Zanola

doi:10.1080/00036840500400384

The art of benchmarking: Picasso prints and auction house performance

Finn R. Førsund
, Roberto Zanola

Dipartimento di Giurisprudenza e Scienze Politiche, Economiche e Sociali

Risultato della ricerca: Contributo su rivista › Articolo in rivista › peer review

Abstract

The influence of the auction house on the price of comparable art objects is an issue in the economics of arts literature. The standard approach has been to run hedonic price regressions including the auction house as a dummy variable. The approach in this paper is to apply benchmarking tools developed in the efficiency and productivity literature directly to the auction house as a unit. New performance indices are developed based on a DEA benchmarking technique to analyse auction houses. The new indices discriminate well between auction houses by allowing one to identify both contemporaneous and inter-temporal performances. Additional best performance results are obtained for specific attributes.

Lingua originale	Inglese
pagine (da-a)	1425-1434
Numero di pagine	10
Rivista	Applied Economics
Volume	38
Numero di pubblicazione	12
DOI	https://doi.org/10.1080/00036840500400384
Stato di pubblicazione	Pubblicato - 10 lug 2006

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10.1080/00036840500400384

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abstract = "The influence of the auction house on the price of comparable art objects is an issue in the economics of arts literature. The standard approach has been to run hedonic price regressions including the auction house as a dummy variable. The approach in this paper is to apply benchmarking tools developed in the efficiency and productivity literature directly to the auction house as a unit. New performance indices are developed based on a DEA benchmarking technique to analyse auction houses. The new indices discriminate well between auction houses by allowing one to identify both contemporaneous and inter-temporal performances. Additional best performance results are obtained for specific attributes.",

author = "F{\o}rsund, \{Finn R.\} and Roberto Zanola",

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The art of benchmarking: Picasso prints and auction house performance

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