The social sciences and the humanities come together in analyses of art markets, a subject of increasing interest in recent years to economists, historians, philosophers, and scholars in all fields interested in the important policy questions that are raised. This is the first major survey and integration of research that has been undertaken thus far. This book will serve as an excellent introduction for interested scholars in all fields and as a text for courses and seminars in colleges and universities.

Craufurd Goodwin, James B. Duke Professor of Economics Emeritus, Duke University

The workings of the art market are a matter of curiosity to the general public and of vital financial interest to collectors, dealers, gallery curators and, of course, artists. This book contains a detailed account of the economics of the American art market that will be of interest to students and researchers in economics at the same time as being readily accessible to the non-technical reader. The authors, all distinguished economists, show a breadth and depth of understanding of American art that informs their empirical analysis and the discussion of their findings. Indeed the book is an exemplary illustration of the way in which economics, when competently and sensitively applied, can illuminate important aspects of the role of art in human affairs.

David Throsby, Macquarie University

A landmark history of the art market in the United States.

Neil De Marchi, Professor of Economics Emeritus, Duke University