作者：Li, Yuexin; Ma, Xiaoyin; Renneboog, Luc
作者单位：Renmin University of China; Ant Group; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Tilburg University
摘要：Whereas trust is the cornerstone of any market's functioning, it is of particular importance in markets that are unregulated, illiquid, and opaque, such as the art market. This study examines the role of authenticity, as captured by provenance information in auction catalogs, on the probability of auctioned oil paintings, watercolors, and prints being sold; their price formation; and returns. Auction catalogs include four authenticity dimensions: pedigree (ownership blockchain, descendance inf...
