Search results

1 – 10 of 50
Per page
102050
Citations:
Loading...
Access Restricted. View access options
Article
Publication date: 18 March 2022

Urbi Garay, Eduardo Pérez, Jose Casanova and Michelle Kratohvil

The price of a painting is determined by multiple variables, including color-related variables. Colors are important in an economic analysis. This study aims to analyze the…

482

Abstract

Purpose

The price of a painting is determined by multiple variables, including color-related variables. Colors are important in an economic analysis. This study aims to analyze the paintings executed by Jean-Michel Basquiat (the famous street artist from the 1980s' New York City) and sold at auction to study the potential effect of color intensity, luminosity and color contrast on the prices of his paintings. The authors also study the case of the op art master, Carlos Cruz-Diez, as a robustness analysis to the main results. The analysis that the authors present may be of interest to academicians and to participants in the art market.

Design/methodology/approach

The authors run a hedonic regression model considering 306 paintings (executed by Basquiat alone), and 41 works painted collaboratively between Basquiat and Warhol and sold at auction (2003–2017). The data and the images corresponding to each painting were hand-collected from the websites of several auction houses and complemented with information obtained from the Artprice and Blouin websites.

Findings

Increases in color intensity, luminosity and color contrast have a positive effect on art prices. The authors also find that color intensity is even more recognized (as reflected by higher prices) for paintings belonging to Basquiat's most appreciated (understood as most expensive) artistic period (1980–1983) and during the second part of the sample period (2011–2017). The authors find similar results for Cruz-Diez. The authors also estimate that Basquiat's artworks made collaboratively with Andy Warhol are worth 55% less than those made only by Basquiat. An investment in Basquiat's paintings generated an average annual compounded return of 16.81% (2003–2017), clearly overperforming the S&P 500.

Research limitations/implications

The main limitation of the hedonic regression method lies in the need to have a significant and varied sample to identify the true effect of each variable on the price of the good. Another limitation is that we are only able to use art prices from auctions, as this is the only comprehensive source of data that is publicly available. These two limitations are common to all studies that use the hedonic pricing model. This paper has implications not only for the art pricing (and more generally, asset pricing) literature, but also for the fields of psychology and marketing.

Originality/value

This is the first paper that highlights the importance of analyzing the price impact of color intensity throughout the artistic periods of a painter, finding that color intensity is even more appreciated (as reflected by higher prices) for paintings belonging to an artist's most recognized period. In the case of color contrast, the authors present a novel way to estimate this variable.

Objetivo

El precio de una pintura está determinado por múltiples variables, incluidas las relacionadas con el color. Los colores son importantes en el análisis económico. En este trabajo, se analizan las obras realizadas por Jean-Michel Basquiat (el famoso artista callejero latino de la escena artística neoyorquina de los años 80) y vendidas en subasta, para estudiar el efecto potential que la intensidad del color, la luminosidad y el contraste de sus pinturas pueden tener sobre sus precios También estudiamos el caso del maestro de op-art, Carlos Cruz-Diez, como análisis de robustez a nuestros principales resultados. El análisis que presentamos puede ser de interés tanto para académicos como para participantes del mercado del arte.

Diseño/Metodología/Enfoque

Realizamos un modelo de regresión hedónica considerando 306 obras (pintadas solo por Basquiat), y 41 obras realizadas de manera colaborativa entre Basquiat y Warhol y vendidas en subasta (2003–2017). Los datos y las imágenes correspondientes a cada obra fueron recolectados a mano de los sitios web de varias casas de subastas y complementados con información de los sitios web de Artprice y Blouin.

Hallazgos

Incrementos en la intensidad, luminosidad y contraste del color (variable para la que proponemos una nueva medida), inciden positivamente en los precios del arte. También encontramos que la intensidad del color es aún más reconocida (como se refleja en los precios más altos en las subastas) para pinturas pertenecientes al período artístico más apreciado de Basquiat (1980–1983), entendido como el más caro, y durante la segunda parte del período muestral (2011–2017). Además, hallamos resultados similares para Cruz-Diez. De igual forma, estimamos que las obras de arte de Basquiat realizadas en colaboración con Andy Warhol valen un 55% menos que las realizadas solo por Basquiat. Una inversión en las pinturas de Basquiat generó un rendimiento compuesto anual promedio del 16,81% (2003–2017), claramente superando el rendimiento total del índice S&P 500.

Limitaciones de la investigación/implicaciones

La principal limitación del método de regresión hedónica radica en la necesidad de contar con una muestra significativa y variada para identificar el verdadero efecto de cada variable sobre el precio del bien en estudio. Otra limitación consiste en que solo es posible utilizar los precios de las obras de arte que son vendidas en subastas, ya que esta es la única fuente completa de datos que está disponible públicamente. Estas dos limitaciones son comunes a todos los estudios que utilizan el modelo de precios hedónicos. El artículo tiene implicaciones no solo para la literatura sobre precios de arte (y, más en general, sobre los precios de los activos), sino también para la literatura sobre psicología y mercadeo, en donde el estudio del impacto de los colores en las emociones y en el atractivo de un producto son de suma importancia.

Originalidad/valor

Este es el primer estudio que destaca la importancia de analizar el impacto en precios de la intensidad del color a lo largo de los períodos artísticos de un pintor, debido a que se determinó que la intensidad de color es aún más apreciada (como se refleja en los precios más altos en las subastas), para las pinturas pertenecientes al período artístico más reconocido de un artista. En el caso del contraste de color, se propuso y utilizó una forma novedosa de estimar esta variable.

Details

Academia Revista Latinoamericana de Administración, vol. 35 no. 3
Type: Research Article
ISSN: 1012-8255

Keywords

Access Restricted. View access options
Book part
Publication date: 5 August 2019

Richard L. Wood

This chapter offers a speculative essay regarding how religion may foster intellectual humility in public life, drawing on case studies from faith-based community organizing in…

Abstract

This chapter offers a speculative essay regarding how religion may foster intellectual humility in public life, drawing on case studies from faith-based community organizing in the United States. and liberation theology in Latin America. Despite a plethora of religious teaching about the virtue of humility across a variety of traditions, I do not think there is anything inherent in religious belief – in any tradition – that predisposes believers toward authentic humility in their personal or public lives. I argue instead that religious conviction – when embodied in particular kinds of religious practice – does help drive us toward the balance of confidence and intellectual humility required for vigorous engagement in democratic public life. My argument draws on the concept of focal practices and insights from philosophy, theology, and social theory as I consider religious practices, religious conversion, and the nature of human passions as they relate to democratic life.

Details

Religion, Humility, and Democracy in a Divided America
Type: Book
ISBN: 978-1-78973-949-7

Keywords

Access Restricted. View access options
Book part
Publication date: 30 November 2011

Philip S. Gorski

In 1967, Robert N. Bellah famously argued that there existed an “American Civil Religion,” which was distinct from churchly religion and captured the “transcendental” dimension of…

Abstract

In 1967, Robert N. Bellah famously argued that there existed an “American Civil Religion,” which was distinct from churchly religion and captured the “transcendental” dimension of the American project. In this chapter, I revisit the civil religion concept and reconstruct it along more Weberian lines. Specifically, I argue that the civil religion tradition is one of three competing traditions for thinking about the proper relationship between religion and politics in America; the other two are religious nationalism and liberal secularism. Whereas liberal secularism envisions a complete separation of the religious and political value spheres, and religious nationalism longs for their (re)unification, civil religion aims for a mediating position of partial separation and productive tension. Following Bellah, I argue that the two central strands of the civil religion tradition have been covenant theology and civic republicanism. The body of the chapter sketches out the development of the tradition across a series of national foundings and refoundings, focusing on the writings of leading civil theologians from John Winthrop and John Adams through Abraham Lincoln and John Dewey to Martin King and Barack Obama. The conclusion advances a normative argument for American civil religion – and against liberal secularism and religious nationalism. I contend that liberalism is highly inclusive but insufficiently solidaristic; that religious nationalism is highly solidaristic but insufficiently inclusive; and that only civil religion strikes a proper balance between individual autonomy and the common good.

Details

Rethinking Obama
Type: Book
ISBN: 978-0-85724-911-1

Available. Content available
Book part
Publication date: 20 June 2005

Abstract

Details

Political Power and Social Theory
Type: Book
ISBN: 978-1-84950-335-8

Access Restricted. View access options
Book part
Publication date: 15 October 2013

Susan C. Pearce

This chapter interrogates the practice of gender-based asylum as a window to the problem of gender-based violence (GBV) as a driver of migration, with a focus on Southeast Europe…

Abstract

Purpose

This chapter interrogates the practice of gender-based asylum as a window to the problem of gender-based violence (GBV) as a driver of migration, with a focus on Southeast Europe, reporting on one instance of the intersection between the more private matter of gender and the realms of “high politics.”

Design/methodology/approach

The research is based on qualitative methods, primarily drawn from existing (written) sources, including legal cases, government and NGO reports, and other documents, supplemented by information gathered through in-depth interviews.

Findings

This research found that the region is a source of migrants escaping GBV, and that migrants from this region have been agents in moving the practice of gender-based asylum forward in recent years. That migration is increasingly multidirectional. Further, the “West” offers gender-based asylum inconsistently.

Research limitations/implications

Political and policy change on these matters across this region were transitioning rapidly when this chapter was written; there will be a need, therefore, for updates based on any new developments.

Social implications

Policy progress should be based on recognition of Southeast Europe’s varied roles as receiving, transit, and destination countries as the region’s viability and visibility increase.

Originality/value

The chapter analyzes a legal terrain that is rarely done outside of the field of law. It offers the most recent analysis of current developments in gender-based asylum with a Southeast Europe focus. Finally, it contributes empirical research to the evolving theoretical discussions of the privatization of the public sphere, particularly for emerging democracies.

Details

Gendered Perspectives on Conflict and Violence: Part A
Type: Book
ISBN: 978-1-78350-110-6

Keywords

Access Restricted. View access options
Article
Publication date: 1 October 2002

Richard L. Wood and Mark R. Warren

Questions whether, in the USA, faith‐based communities can have an important effect on politics. Contends that other areas, where there are poorer communities, are more likely to…

1017

Abstract

Questions whether, in the USA, faith‐based communities can have an important effect on politics. Contends that other areas, where there are poorer communities, are more likely to be influenced politically in civil society although does not preclude other income sectors from being similarly affected just that deprived areas are more likely to listen to faith‐based organizers.

Details

International Journal of Sociology and Social Policy, vol. 22 no. 9/10
Type: Research Article
ISSN: 0144-333X

Keywords

Access Restricted. View access options
Article
Publication date: 18 June 2019

Francisco José Fernández-Cruz, Jesús Miguel Rodríguez-Mantilla and Ma José Fernández-Díaz

A growing number of schools are now implementing quality management systems (QMS). As a result, studies are being conducted to assess the educational benefits of these systems and…

533

Abstract

Purpose

A growing number of schools are now implementing quality management systems (QMS). As a result, studies are being conducted to assess the educational benefits of these systems and their capacity to identify areas for improvement in school processes and performance. The purpose the present study is to assess the impact of ISO:9001 implementation on teaching-learning processes in the classroom, and in schools with at least three years’ experience of applying this standard.

Design/methodology/approach

To this end, a questionnaire was administered to a final sample of 2,185 subjects from 80 pre-school, primary and secondary education schools in the regions of Madrid, Castile and León, Andalusia and Valencia (Spain).

Findings

The results show that ISO:9001 implementation yielded a higher than average impact on teaching-learning processes. Specifically, improvements were observed in the subdomains of tutorials, evaluation and classroom teaching methodologies as a result of implementing this QMS.

Originality/value

This impact was higher in state-subsidized private schools in Valencia and Andalusia with over nine years’ experience of ISO:9001 in schools with internal funding plans and in those with fewer than 29 teachers on the staff.

Details

Quality Assurance in Education, vol. 27 no. 3
Type: Research Article
ISSN: 0968-4883

Keywords

Access Restricted. View access options
Article
Publication date: 24 May 2013

Jose M. Merigo

The purpose of this paper is to develop a new decision making method based on distance measures that uses the probabilistic weighted averaging (PWA) operator. The paper introduces…

424

Abstract

Purpose

The purpose of this paper is to develop a new decision making method based on distance measures that uses the probabilistic weighted averaging (PWA) operator. The paper introduces the PWA distance (PWAD) operator. It is a new aggregation operator that uses probabilities, weighted averages (WAs) and distance measures. Some of its main properties and particular cases are studied such as the arithmetic weighted Hamming distance and the arithmetic probabilistic Hamming distance. An application in a group decision making problem concerning the selection of investment strategies is also presented.

Design/methodology/approach

The paper follows the aggregation operator literature by designing new aggregation operators based on the use of distance measures. Also an application in investment selection is developed.

Findings

The PWAD operator is presented. It permits to use distance measures with probabilities and WAs in the same formulation. Moreover, the paper also finds the PWA norm aggregation and implements them in a group decision making problem.

Practical implications

The PWAD operator can be applied in a wide range of problems including statistics, economics and engineering. The paper focuses on a multi‐person decision making application concerning the selection of the optimal investment strategies.

Originality/value

New aggregation operators by using distance measures are presented. Their main advantage is that they unify the WA with the probability. Thus, the paper considers distance measures that include subjective and objective information in the same formulation.

Details

Kybernetes, vol. 42 no. 5
Type: Research Article
ISSN: 0368-492X

Keywords

Access Restricted. View access options
Article
Publication date: 23 October 2007

Rosa Ma Martín, Josep Casanovas, José Francisco Crespo and Joan Giralt

This paper aims to present the outcome of the i2CAT Foundations' research and innovation projects that use JXTA P2P technology to share audiovisual content.

689

Abstract

Purpose

This paper aims to present the outcome of the i2CAT Foundations' research and innovation projects that use JXTA P2P technology to share audiovisual content.

Design/methodology/approach

The project consisted of designing and developing a distributed application named eRuc that allows management and sharing of audiovisual content.

Findings

The paper finds that JXTA is suitable to develop P2P applications that share audiovisual files or that interact with different kind of devices. JXTA services and protocols provide an easy integration with other P2P services and a gain of independence from the topology of the physical network (NAT, firewalls, etc.).

Research limitations/implications

High‐quality streaming requires specifically designed P2P architectures. Further testing needs to be performed to evaluate whether the use of JXTA, together with proven, efficient P2P streaming architectures, affect the efficiency of the P2P streaming system.

Practical/implications

P2P technologies have proven to be very efficient for some kind of applications. However, there are no standard frameworks for interoperability and application development may become difficult. JXTA P2P technologies facilitate application development and integration. The authors have used JXTA in different scenarios related with audiovisual content sharing and have proven its suitability. The current work is focused in P2P streaming. Previous literature suggests that there are some proven architectures for P2P life streaming. Using JXTA together with them may prove if JTXA is suitable for applications that require high bandwidth and minimum delay.

Originality/value

The paper provides information of value to information management and technology professionals.

Details

Internet Research, vol. 17 no. 5
Type: Research Article
ISSN: 1066-2243

Keywords

Access Restricted. View access options
Article
Publication date: 9 January 2017

Jose M. Brotons and Manuel E. Sansalvador

The economic effects resulting from the commitment to ISO 9001 certification is a controversial issue. Many authors have concluded about the positive economic effects resulting…

463

Abstract

Purpose

The economic effects resulting from the commitment to ISO 9001 certification is a controversial issue. Many authors have concluded about the positive economic effects resulting from the establishment of quality systems in accordance with the requirements established in the ISO 9001 standard, but other authors have not appreciated this positive relationship. The purpose of this paper is to provide a model that facilitates the valuation of the ISO 9001 quality system.

Design/methodology/approach

In the process of developing a valuation model, given the uncertainty this process involves, the use of fuzzy math is very useful. First, as for an internal valuation method, the authors highlight the discounted cash flow in a fuzzy environment. The internal valuation will be completed by external expert opinions. To improve the information supplied by experts, the paper makes use of the experton theory. In this context, the authors propose the aggregation of the experts’ opinion by using basic defuzzification distribution (BADD)-fuzzy induced ordered weighted averaging. Finally, the results undergo contra-expertise. After presenting the theoretical model, the authors proceed with its application by using a case study.

Findings

The paper develops a new method for the economic evaluation of the ISO 9001 certification.

Originality/value

The authors propose the valuation of ISO 9001 quality management system, and they do it using some interesting tools which fuzzy logic offers. In this way, it is possible to eliminate subjectivity and improve the final results.

Details

Kybernetes, vol. 46 no. 1
Type: Research Article
ISSN: 0368-492X

Keywords

1 – 10 of 50
Per page
102050