We study return rates on art investment using a complete dataset on repeated sales for Old Master Paintings, Modern art and Contemporary art auctioned worldwide at Christie's and Sotheby's from 2000 to 2018. We show that return rates do not depend systematically on past prices or the place of...

In this article, I propose a theoretical framework for systematically including the discussion of tastes and values in the economic analysis of the law. I argue that Cultural Economics offers a welfaristic argument for including the promotion of welfare-enhancing tastes and values as one of the...