The World’s First Stock Exchange

Petram, Lodewijk; Richards, Lynne

doi:10.7312/columbia/9780231163781.001.0001

Cited by 11 publications

(12 citation statements)

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“…Jonker 2004). By the 1640s, lending against stock had developed into a mature, standardized market (Petram 2011). From the 18 th century onwards, English securities were used as collateral, including stock British East India Company stock (EIC).…”

Section: Ia Collateralized Lending In 18 Th Century Amsterdammentioning

confidence: 99%

Leverage and Beliefs: Personal Experience and Risk-Taking in Margin Lending

Koudijs

Voth

2016

American Economic Review

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Distressed sales (or purchases) often lead to a V-shaped pattern in asset prices. We investigate the underlying dynamics of this overshooting of the price in a unique historical setting. We present detailed transaction data for two cases of distressed trading in the Amsterdam stock market in 1772 and 1773. We show that there is an interesting disconnect between the realization of the shock and price overshooting on the one hand, and the actual distressed trading on the other. A large fraction of trades were delayed until the overshooting of the price had been corrected. Using qualitative sources we document signi…cant contemporary uncertainty about the size of the shock. We argue that a model based on this uncertainty could potentially explain the disconnect between price overshooting and the timing of transactions.

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Section: Ia Collateralized Lending In 18 Th Century Amsterdammentioning

confidence: 99%

Leverage and Beliefs: Personal Experience and Risk-Taking in Margin Lending

Koudijs

Voth

2016

American Economic Review

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“…Merchants initially, that is to say during the last quarter of the sixteenth century, used notarized shipping contracts, but as shipping grew and contracts standardized, they switched to private contracting and used notaries only as an exception, for trips with unusual cargoes, partners, or destinations (Gelderblom 2013). The securities trade showed a similar switch from notarized to private contracting (Petram 2014). The use of affidavits or solemn depositions taken by notaries also appears to have dropped over time as merchants found other cheaper ways of giving formal testimony in business disputes.…”

Section: The Functions Of Aldermen and Notariesmentioning

confidence: 96%

Public Functions, Private Markets: Credit Registration by Aldermen and Notaries in the Low Countries, 1500–1800

Gelderblom

Hup

Jonker

2018

Financing in Europe

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“…Many aspects of the early modern Dutch economy echo the modern Western world. At the beginning of the 17th century, modern financial institutions like bank and stock exchange were established, and the derivatives and securities market was developed, revealing the capitalist root of the Dutch Republic (Petram 2014). Petram (2014) further suggests the derivative market tempted the traders to take unbearable risks, like entering into a forward contract with no upfront payment with a prospect of possible profit.…”

Section: Decisions Under Risk and Uncertaintymentioning

confidence: 99%

Art Markets and Digital Histories

2020

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She specializes in the relationship between cities, culture and economics, and has published and taught on art markets and cultural industries from the early modern period to the present. Her current research projects focus on the development of historical cultural datasets and digital infrastructures, as well as their application in other societal domains. Sandra van Ginhoven is head of the Project for the Study of Collecting and Provenance at the Getty Research Institute. Her research on the history of the art markets and the art trade between the Southern Netherlands and Spanish America during the seventeenth century was published in 2016. Her current projects apply data analysis and modeling techniques to various topics in the history of collecting and the art markets. vii Preface to "Art Markets and Digital Histories" This Special Issue of Arts investigates the use of digital methods in the study of art markets and their histories. As historical and contemporary data is rapidly becoming more available, and digital technologies are becoming integral to research in the humanities and social sciences, we sought to bring together contributions that reflect on the different strategies that art market scholars employ to navigate and negotiate digital techniques and resources. The essays in this issue cover a wide range of topics and research questions. Taken together, the essays offer a reflection on what takes to research art markets, which includes addressing difficult topics, such as the nature of the research questions and data available to us, and the conceptual aspects of art markets, in order to define and operationalize variables and to interpret visual and statistical patterns for scholarship. In our view, this discussion is enriched when also taking into account how to use shared or interoperable ontologies and vocabularies to define concepts and relationships that facilitate the use and exchange of linked (open) data for cultural heritage and historical research.

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The World’s First Stock Exchange

Cited by 11 publications

References 0 publications

Leverage and Beliefs: Personal Experience and Risk-Taking in Margin Lending

Leverage and Beliefs: Personal Experience and Risk-Taking in Margin Lending

Public Functions, Private Markets: Credit Registration by Aldermen and Notaries in the Low Countries, 1500–1800

Art Markets and Digital Histories

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