The Economics of Blockchain-Based Virtual Worlds: A Hedonic Regression Model for Virtual Land

2021 ◽  
Author(s):  
Mitchell Goldberg ◽  
Peter Kugler ◽  
Fabian Schär

2019 ◽  
Author(s):  
Urbi Garay ◽  
Gavino Puggioni ◽  
German Molina ◽  
Enrique ter Horst


2003 ◽  
Vol 22 (2) ◽  
pp. 90-98 ◽  
Author(s):  
G. Michael Phillips


Author(s):  
Olusegun Olaopin Olanrele ◽  
Rosli Said ◽  
Mohd Nasir Daud


2017 ◽  
Vol 7 (3) ◽  
pp. 323-342
Author(s):  
Fang Wang ◽  
Xu Zheng

Purpose The purpose of this paper is to construct a price index for Chinese oil paintings and analyze the financial performance of investing in Chinese oil paintings and its potential for portfolio diversification in Chinese financial markets. Design/methodology/approach A hedonic regression model is applied to construct a semiannual price index for Chinese oil paintings from 2000 to 2014. The CAPM model, downside β and standard portfolio optimization are used for analyzing portfolio diversification. Findings The hedonic regression shows that the majority of hedonic variables, such as dimension, artist’s reputation, living status, medium and auction houses, are statistically significant in estimation. Not only the return from oil painting investments is higher than other equities, but also the β coefficient of the CAPM model and downside β indicate that Chinese oil painting may be a good hedging instrument against stock market risk. Furthermore, the portfolio optimizations under standard assumptions suggest that oil paintings as an alternative investment provide diversification benefit. Originality/value This paper provides a new and comprehensive analysis of characteristics and risks of investing in the Chinese oil paintings.





2016 ◽  
Vol 47 (4) ◽  
pp. 461-480 ◽  
Author(s):  
Germán M. Izón ◽  
Michael S. Hand ◽  
Daniel W. Mccollum ◽  
Jennifer A. Thacher ◽  
Robert P. Berrens


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