Published papers

Real and Private-Value Assets (with William Goetzmann and Stijn Van Nieuwerburgh)

Review of Financial Studies, forthcoming (introduction to special issue)

The Rate of Return on Real Estate: Long-Run Micro-Level Evidence (with David Chambers and Eva Steiner)

Review of Financial Studies, forthcoming

Press coverage: Bloomberg, The Economist

"We'll always have Paris": Out-of-country buyers in the housing market (with Dragana Cvijanovic)

Management Science, forthcoming

Press coverage: The Economist

Art as an asset: Evidence from Keynes the collector (with David Chambers and Elroy Dimson)

Review of Asset Pricing Studies, 2020, Vol. 10, pp. 490-520

Press coverage: Artsy, Bloomberg, Frankfurter Allgemeine, Wall Street Journal

A model of trading in the art market (with Stefano Lovo)

American Economic Review, 2018, Vol. 108, pp. 744-774

No-trade in second-price auctions with entry costs and secret reserve prices (with Stefano Lovo)

Economics Letters, 2017, Vol. 156, pp. 142-144

Organizational and epistemic change: The growth of the art investment field (with Erica Coslor)

Accounting, Organizations and Society, 2016, Vol. 55, pp. 48-62

The price of wine (with Elroy Dimson and Peter Rousseau) [wine price index 1900-2012]

Journal of Financial Economics, 2015, Vol. 118, No. 2, pp. 431-449

Press coverage: Financial Times, New York Times, Wall Street Journal

The economics of aesthetics and record prices for art since 1701 (with William Goetzmann and Elena Mamonova)

Explorations in Economic History, 2015, Vol. 57, pp. 79-94

Press coverage: Bloomberg, The Economist

Subjective life horizon and portfolio choice (with Sven Michael Spira)

Journal of Economic Behavior & Organization, 2015, Vol. 116, 94-106

Investing in emotional assets (with Elroy Dimson)

Financial Analysts Journal, 2014, Vol. 70, No. 2, pp. 20-25

Sentiment and art prices (with Julien PĂ©nasse and Luc Renneboog)

Economics Letters, 2014, Vol. 122, No. 3, pp. 432-434

Buying beauty: On prices and returns in the art market (with Luc Renneboog)

Management Science, 2013, Vol. 59, No. 1, pp. 36-53

Religion, economic attitudes, and household finance (with Luc Renneboog)

Oxford Economic Papers, 2012, Vol. 64, No. 1, pp. 103-127

Hard assets: The returns on rare diamonds and gems (with Luc Renneboog)

Finance Research Letters, 2012, Vol. 9, No. 4, pp. 220-230

Press coverage: Wall Street Journal

Ex post: The investment performance of collectible stamps (with Elroy Dimson) [stamp price index 1900-2008]

Journal of Financial Economics, 2011, Vol. 100, No. 2, pp. 443-458

Press coverage: Financial Times

Art and money (with William Goetzmann and Luc Renneboog) [art price index 1765-2007]

American Economic Review, 2011, Vol. 101, No. 3 (AEA Papers and Proceedings), pp. 222-226

Press coverage: The Guardian, Vox

The iconic boom in modern Russian art (with Luc Renneboog)

Journal of Alternative Investments, 2011, Vol. 13, No. 3, pp. 67-80