21 lines
1.5 KiB
Markdown
21 lines
1.5 KiB
Markdown
# Art
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Art is an asset class which encompass a broad category of human activities and artefacts that are done with "artistic intent". This is a philosophically ambiguous category but generally corresponds to activities which are stimulating because of their aesthetic, intellectual or emotional qualities.
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Art is a [non-productive asset](productive-asset.md).
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Art is a [speculative asset](speculation.md).
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Art generally has no [income-cashflows](income-cashflows.md) in and of itself.
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Art has no [fundamental value](fundamental-value.md) under the economic definition of the term.
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Art's [intrinsic value](use-value.md) is a debated in philosophy. Some models suggest that art's value is derived from a human desire for beauty or a physiological compulsion to conceptualize abstract representations of the minds others human beings. There is no universally agreed definition of what constitutes art.
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Art's [market value](market-value.md) is often tied to its provenance, [sign value](sign-value.md) and [narrative](narrative-economics.md). The precise nature of this a relationship is an open problem in the philosophy of art.
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Art may be [artificial scarce](artificial-scarcity.md) if created as part of a collection.
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The art market has a great amount of [asymmetric information](asymmetric-information.md) and [market manipulation](market-manipulation.md) and is often used a vehicle for [money laundering](money-laundering.md).
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## References
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1. Solimano, Andrés. 2021. ‘The Evolution of Contemporary Arts Markets’. https://doi.org/10.4324/9781003215127. |