Home > Research > Publications & Outputs > Evolution of a dealer trading network and its e...

Research

Associated organisational unit

Links

Text available via DOI:

Keywords

View graph of relations

Evolution of a dealer trading network and its effects on art auction prices

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Published

Standard

Evolution of a dealer trading network and its effects on art auction prices. / De Silva, D.G.; Gertsberg, M.; Kosmopoulou, G. et al.
In: European Economic Review, Vol. 144, 104083, 31.05.2022.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

De Silva, DG, Gertsberg, M, Kosmopoulou, G & Pownall, RAJ 2022, 'Evolution of a dealer trading network and its effects on art auction prices', European Economic Review, vol. 144, 104083. https://doi.org/10.1016/j.euroecorev.2022.104083

APA

De Silva, D. G., Gertsberg, M., Kosmopoulou, G., & Pownall, R. A. J. (2022). Evolution of a dealer trading network and its effects on art auction prices. European Economic Review, 144, Article 104083. https://doi.org/10.1016/j.euroecorev.2022.104083

Vancouver

De Silva DG, Gertsberg M, Kosmopoulou G, Pownall RAJ. Evolution of a dealer trading network and its effects on art auction prices. European Economic Review. 2022 May 31;144:104083. Epub 2022 Mar 31. doi: 10.1016/j.euroecorev.2022.104083

Author

De Silva, D.G. ; Gertsberg, M. ; Kosmopoulou, G. et al. / Evolution of a dealer trading network and its effects on art auction prices. In: European Economic Review. 2022 ; Vol. 144.

Bibtex

@article{dde4b0f716c14d8b902d2e828db26ae3,
title = "Evolution of a dealer trading network and its effects on art auction prices",
abstract = "We use a unique historical data set (1741-1913) of all London-based art auctions to capture the role of information acquisition in the development of a trading network for dealers and its effect on artwork prices. We explore how the network size, depth of interactions, and similarities in art specialization between trading partners influence the decision to form new links. We find that, a larger and deeper trading network exacerbates informational asymmetries among buyers, leading to a price advantage. We show that information transmission through a network of experienced dealers is important in determining the price they pay - a factor that has been overlooked so far in the literature. ",
keywords = "Auctions, Art dealers, Trading networks",
author = "{De Silva}, D.G. and M. Gertsberg and G. Kosmopoulou and R.A.J. Pownall",
year = "2022",
month = may,
day = "31",
doi = "10.1016/j.euroecorev.2022.104083",
language = "English",
volume = "144",
journal = "European Economic Review",
issn = "0014-2921",
publisher = "Elsevier",

}

RIS

TY - JOUR

T1 - Evolution of a dealer trading network and its effects on art auction prices

AU - De Silva, D.G.

AU - Gertsberg, M.

AU - Kosmopoulou, G.

AU - Pownall, R.A.J.

PY - 2022/5/31

Y1 - 2022/5/31

N2 - We use a unique historical data set (1741-1913) of all London-based art auctions to capture the role of information acquisition in the development of a trading network for dealers and its effect on artwork prices. We explore how the network size, depth of interactions, and similarities in art specialization between trading partners influence the decision to form new links. We find that, a larger and deeper trading network exacerbates informational asymmetries among buyers, leading to a price advantage. We show that information transmission through a network of experienced dealers is important in determining the price they pay - a factor that has been overlooked so far in the literature.

AB - We use a unique historical data set (1741-1913) of all London-based art auctions to capture the role of information acquisition in the development of a trading network for dealers and its effect on artwork prices. We explore how the network size, depth of interactions, and similarities in art specialization between trading partners influence the decision to form new links. We find that, a larger and deeper trading network exacerbates informational asymmetries among buyers, leading to a price advantage. We show that information transmission through a network of experienced dealers is important in determining the price they pay - a factor that has been overlooked so far in the literature.

KW - Auctions

KW - Art dealers

KW - Trading networks

U2 - 10.1016/j.euroecorev.2022.104083

DO - 10.1016/j.euroecorev.2022.104083

M3 - Journal article

VL - 144

JO - European Economic Review

JF - European Economic Review

SN - 0014-2921

M1 - 104083

ER -