Using data on 50 million home sales from the recent US housing cycle, we document that
much of the variation in volume came from the rise and fall in short-term speculation. Cities …

In the market for non-fungible tokens (NFTs) on the blockchain, experienced investors
systematically outperform inexperienced investors. Controlling for holding period …

We focus on the existence of bubbles in fan tokens, utilizing the Supremum Augmented
Dickey-Fuller (SADF) and Generalized Supremum Augmented Dickey-Fuller (GSADF) tests …

This study addresses a significant gap in the existing literature by conducting a
comprehensive systematic review of the art market over the past 50 years, utilizing big data …

The big bang of non-fungible tokens (NFTs) has caused the birth of a brand new era for
digital art. NFTs, driven by blockchain and smart contracts, provide both artists and art …

The record-breaking prices observed in the art market over the last 5 years raise the
question of whether it is an ongoing boom or whether we are experiencing a speculative …

Extant literature debates the role of news media in speculative markets. Some show media
hype leads to irrational behavior, while others argue news attenuates market imperfections …

Real and private-value assets—defined here as the sum of real estate, infrastructure,
collectibles, and noncorporate business equity—compose an investment class worth an …

We present an infinite-horizon model of endogenous trading in the art auction market.
Agents make purchase and sale decisions based on the relative magnitude of their private …

This study investigates how NFT design features affect project performance. From the
consumption perspective, NFT design features are divided into competency-related (image …