The informational efficiency of the art market

Article Abstract:

Informational efficiency in the painting market is determined using two measures. One is a measure of market efficiency in terms of serial dependency in returns and the other is a measure of price risk or uncertainty regarding the resale value of a piece of artwork. With the use of historical data, a decline in price risk since the start of the painting market is noted. This suggests increasing informational efficiency due to the improved availability of auction information to art buyers and sellers.

Economic aspects, Art as an investment

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Financial intermediation under information asymmetry: implications for capital market efficiency in selected developing countries

Article Abstract:

An examination of financial intermediation in the capital markets of selected emerging markets showed that the supply-leading intermediation technique is employed in markets where information asymmetry exists. This is done to enhance the savings-investment process by providing the capital where it is needed most, surmounting structural and market imperfections of the economy. This is done through development banks and other specialized institutions which provides credit for economic mobilization.

All Other Nondepository Credit Intermediation, NONDEPOSITORY INSTITUTIONS, Development Banks, Economic development, Capital market, Capital markets

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Testing efficiency across markets: evidence from the NCAA basketball betting market

Article Abstract:

The National Collegiate Athletic Association (NCAA) basketball betting market has been used in research into whether differences in the availability of information across markets lead to different efficiencies of price formation across these markets. For markets within the NCAA basketball betting market, efficiency in price formation varies across those markets.

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