Art Market as a financial asset in times of distress (London, late 19th century and early 20th Century)

艺术市场作为困难时期的金融资产（伦敦，19世纪末20世纪初）

• 批准号: 2751141
• 金额: --
• 依托单位: London School of Economics and Political Science
• 依托单位国家: 英国
• 项目类别: Studentship
• 财政年份: 2022
• 资助国家: 英国
• 起止时间: 2022 至 无数据
• 项目状态: 未结题
• 来源: https://gtr.ukri.org/projects?ref=studentship-2751141
• 关键词: Art; Market; financial; asset; times

The thesis investigates works of art as financial investments. Many modern newspaper proclaim art as an alternative investment class but despite the interest, little research exists on the financial performance of art. The problem is that the art market is very heterogenous, with each work of art being unique, and private, making it hard to collect data. The thesis circumvents the latter issue by using historical data from the 19th and early 20th Century. The rich amount of information collected is used to build a new art price index, which will be the first hedonic index on art prices for the 2nd half of the 19th century. The resulting index will be analyzed for various episodes of financial and/or economic crisis to identify what role art plays as an investment.

本文研究的是作为金融投资的艺术品。许多现代报纸宣称艺术是一种另类投资类别，但尽管人们对艺术感兴趣，但关于艺术的财务表现的研究很少。问题是，艺术品市场的异质性很强，每件艺术品都是独一无二的，而且都是私人的，这使得收集数据变得困难。本文利用19世纪和20世纪初的史料，回避了后一个问题。收集到的大量信息被用来建立一个新的艺术品价格指数，这将是19世纪下半叶第一个关于艺术品价格的享乐指数。由此产生的指数将被分析为金融和/或经济危机的不同时期，以确定艺术品作为投资所起的作用。