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Contribution Details

Type Working Paper
Scope Discipline-based scholarship
Title Home is where your art is: the home bias of art collectors
Organization Unit
  • Lasse Steiner
  • Bruno Frey
  • Magnus Resch
  • English
Institution University of Zurich
Series Name Working paper series / Department of Economics
Number 135
ISSN 1664-7041
Number of Pages 11
Date 2013
Abstract Text This paper analysis the global distribution of art collections and collectors´ biases with respect to the origin of artworks. Employing a unique dataset we find that the greatest number of private art collections are located in Europe, North America and Asia. There are relatively few collections in Latin America and Africa. The artists whose oeuvres dominate the markets for collected art come from North America, followed by Asian and European artists. The home bias in private art collections turns out to be strong in all continents and countries. It is highest for Asian and African collections and smaller for European and North American collections. The home bias can partly be accounted for by high export and import restrictions.
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Keywords Art collection, home bias, trade restrictions, artists, Kunstmarkt, Kunstbesitz, Kunsthandel, Kunstsammler