Law and Economics

Market Effects of Court Decisions: A Case Study of Antiquities at Auction in New York and London

Olivia Zitkus, University of North Carolina at Chapel Hill -- The changing legal landscape of the market for ancient art provides an opportunity to study the impact of legal constraints on economic markets. Working with novel data from Sotheby’s and Bonhams auction houses and court decisions from London and New York between 2003 and 2019, I look for the effects of legal rulings and settlements on the art market.