Home bias in domestic art markets: Evidence from China

Shi, Yang; Xu, Hui; Wang, Mancang; Conroy, Paul

doi:10.1016/j.econlet.2017.08.015

Cited by 11 publications

(5 citation statements)

References 8 publications

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“…In the art auction market, the distance diffusion of home bias is especially obvious. With other conditions being the same, artwork for auctions tends to bid at a higher price in the artist's hometown, and the auction price declines with an increased distance from the city where the artist resides [38]. This indicates that the increase in distance leads bidders to lower the psychological price of the art; thus, distance diffusion causes bidders to lower the valuation of artwork.…”

Section: Distance Diffusion and Interpretationmentioning

confidence: 99%

Distance Diffusion of Home Bias for Crowdfunding Campaigns between Categories: Insights from Data Analytics

et al. 2018

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As the information communication and investment of crowdfunding campaigns are usually accomplished online, online crowdfunding theoretically breaks the limitation of space. However, investors' behaviors still show significant home bias; furthermore, from a dynamic view, the changes in home bias during the funding duration reflect the investment preference. This paper studies the dynamics of home bias in crowdfunding investment as well as the distance diffusion of home bias in the crowdfunding market through data mining and econometric models. The distance between investors and founders gradually increases from 3605 km to 4229 km as the funding progresses, and home bias shows different diffusion patterns between categories. For most of the campaigns, the distance between backers and founders of the successful campaigns is always greater than that of the failed ones; thus, the distance diffusion impacts the pledge results. However, the study also finds that for some categories, home bias does not play a positive role in investment or that it even shows negative impacts, among which food and technology are two extreme categories. The study provides a theoretical basis from the perspective of user behavior to analyze online investment and to improve the promotion of crowdfunding campaigns.

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Section: Distance Diffusion and Interpretationmentioning

confidence: 99%

Distance Diffusion of Home Bias for Crowdfunding Campaigns between Categories: Insights from Data Analytics

et al. 2018

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“…There are also other studies that confirmed the existence of home bias (e.g. Yi, 2010; Wincoop and Warnock, 2010; Stehrern, 2014; Shi et al. , 2017).…”

Section: Introductionmentioning

confidence: 80%

“…There are also other studies that confirmed the existence of home bias (e.g. Yi, 2010;Wincoop and Warnock, 2010;Stehrern, 2014;Shi et al, 2017). Some scholars further decomposed home bias into national bias and regional bias [4].…”

Section: Introductionmentioning

confidence: 99%

How much does regional bias affect China's regional agricultural trade?

Jia

Nuetah

2022

CAER

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PurposeMarket integration in China is still progressing, while the border effects of trade among regions still exist. The question of whether eliminating or weakening regional bias can promote of China's agricultural trade still remains an important issue. This paper analyzes the impact of regional bias on China's agricultural trade.Design/methodology/approachThis paper constructs a pure exchange computable general equilibrium model of nine regions and three sectors, and analyzes the impact of regional bias on China's regional agricultural trade; Comparing the differences of regional bias on China's inter-regional and external agricultural trade, the paper especially analyzes the impact of the agricultural imports and exports in eight regions of China.FindingsThe results show that regional bias has had substantial impacts on China's agricultural trade. Elimination of regional bias would therefore increase China's agricultural exports and imports by factors of 1.32 and 1.63, respectively while its agricultural trade deficit would increase by 84%. Inter-regional agricultural trade in China would increase by 3.53 times. With the elimination of regional bias, the Northern coastal, Central and Northwestern regions would have the largest increase in inter-regional agricultural trade. Unlike the Northern coastal region, inter-regional agricultural import in the Central and Northwestern regions tends to be greater than inter-regional agricultural exports.Originality/valueThis paper thus aims to fill existing gap in investigating the impacts of regional bias on China's agricultural trade. Firstly, the model proposed in this paper does not only consider the linkage between the agricultural and non-agricultural sectors, but also the inter-regional agricultural trade linkages of the different regions in China. Secondly, the authors decompose home bias into national and regional biases and assess how regional bias affects agricultural trade of the various regions of China.

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“…Xiong (2012) emphasizes the social dimension of the art market and the importance of social transformation, which resulted in an increase in demand for Chinese fine arts and calligraphy, and consequently also an increase in the prices of works of art. The national and patriotic nature of investment in works of art was also studied by Shi et al (2017), who showed that they investigated whether investors were more inclined to invest in native works of art. On the other hand, Wang (2017) uses a hedonic regression analysis 12 701 in his research, proving that Chinese works of high value have higher expected returns and lower risk than cheaper works.…”

Section: Literature Reviewmentioning

confidence: 99%

Auctioning institutions in China: economic and legal aspects

Kamykowska

2023

EiP

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Motivation: China is now the third largest art market in the world, and thanks to its long history, the country is able to offer a great artistic heritage. Chinese auctioning institutions have become one of the most significant in the world, having a massive global impact on art pricing. By establishing their sales infrastructure in new locales ahead of the traditional mechanisms of primary market commercial galleries, the Chinese auction houses have played a foundational role in the notional construction of new genres of art.Aim: The main purpose of this article is to present a detailed analysis of Chinese auction houses and other auction institutions, with regards to the economic and legal aspects of their operation. The article is cross-sectional, showing how China has become the fastest growing art market in the world. The analysis provides evidence for the existence of various factors that determine the dynamic development of the Chinese art auctions market and determines the differences in the functioning of Chinese and Western auction houses.Results: These results illustrate that exceptional economic and political factors made it possible to significantly develop the Chinese auction market in a very short time.

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Home bias in domestic art markets: Evidence from China

Cited by 11 publications

References 8 publications

Distance Diffusion of Home Bias for Crowdfunding Campaigns between Categories: Insights from Data Analytics

Distance Diffusion of Home Bias for Crowdfunding Campaigns between Categories: Insights from Data Analytics

How much does regional bias affect China's regional agricultural trade?

Auctioning institutions in China: economic and legal aspects

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