This comprehensive and thought-provoking Handbook reviews public sector economics from pluralist perspectives that either complement or reach beyond mainstream views. The book takes a comprehensive interdisciplinary approach, drawing on economic elements in the fields of philosophy, sociology,...

Democracy, Freedom and Coercion comprehensively covers both private and public law, both applied and theoretical issues, and will therefore be of great interest to students studying law and economics.

Art price indexes typically rely on heavily biased samples for several reasons. A refined hedonic index is developed which explicitly addresses such concerns. An empirical illustration is then provided for Symbolist paintings appearing at auctions between 1990 and 2001.

This article analyses patient mobility across Italian regions. A modified gravity model of patient migration is specified and estimated using panel observations covering mobility and other main regional quality indicators over the period 1994-1997. Despite the high level of aggregation due to...

This paper analyses the performance of a speculative investment in paintings during the period 1987–1995 by applying a modified repeat sales technique to a sample of 1446 repeat sales. Since this period is characterised by a boom and a non-boom sub-period, a price risk term is introduced to...

Two basic approaches have been used by the literature focusing on the return to holding artistic works: the hedonic price model and the repeat-sales model. This paper provides a procedure for jointly estimating the two models in a way that take advantages of the unique information contained in...

This paper analyses the performance of an investment in sculpture during theperiod 1987–1995 by applying the hedonic price technique with time dummyvariables to a sample of over 27,000 sales at auctions. The main finding isthat the adjacent year price index differs substantially between...

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...