The pricing of digital art

Arbeitspapier

The intersection of recent advancements in generative artificial intelligence and blockchain technology has propelled digital art into the spotlight. Digital art pricing recognizes that owners derive utility beyond the artwork's inherent value. We incorporate the consumption utility associated with digital art and model the stochastic discount factor and risk premiums. Furthermore, we conduct a calibration analysis to analyze the effects of shifts in the real and digital economy. Higher returns are required in a digital market upswing due to increased exposure to systematic risk and digital art prices are especially responsive to fluctuations in business cycles within digital markets.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: CFS Working Paper Series ; No. 716

Klassifikation und Themen

• Klassifikation: Wirtschaft
• Thema: Digital art ; conspicuous consumption ; utility dividends ; risk premium ; valuation

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Chen, Yi-Hsuan ; Kräussl, Roman ; Verwijmeren, Patrick
• Ereignis: Veröffentlichung
• (wer): Goethe University Frankfurt, Center for Financial Studies (CFS)
• (wo): Frankfurt a. M.
• (wann): 2023

Weitere Informationen

• Handle: http://hdl.handle.net/10419/281200
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ