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Colors, Emotions, and the Auction Value of Paintings
| Content Provider | Semantic Scholar |
|---|---|
| Author | Ma, Marshall Noussair, Charles N. Renneboog, Luc |
| Copyright Year | 2019 |
| Abstract | We study the impact of colors of paintings on prices in the art auction market and incorporate color attributes of non-figurative paintings in pricing models. A one standard deviation increase in the percentages of blue (red) hue leads to premiums of 10.63% (4.20%). We also conduct laboratory experiments in China, the Netherlands, and U.S., and elicit participants’ willingness-to-pay and emotions (pleasure-arousal). Blue (red) paintings command 18.57% (17.28%) higher bids and stronger intention to purchase. Although abstract art is visually arousing, it is the emotional pleasure channel that relates colors and prices. Our results are consistent across all three cultures. |
| File Format | PDF HTM / HTML |
| DOI | 10.2139/ssrn.3339184 |
| Alternate Webpage(s) | http://www.sjsu.edu/economics/docs/EconWS100319_Noussair_Colors.pdf |
| Alternate Webpage(s) | https://doi.org/10.2139/ssrn.3339184 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |