Overall Art Market > Hedonic Index of Modern Indian Art


* Griliches, Zvi. (1971). “Introduction: Hedonic Price Indexes Revisited.” In Zvi Griliches, ed., Price indexes and quality change: studies in new methods of measurement. Cambridge, M.A.: Harvard University Press, pp. 3-15.

* Renneboog, Luc and Tom Van Houtte (2002), "The Monetary Appreciation of Paintings: From Realism to Magritte," Cambridge Journal of Economics, 26, 331-357

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The hedonic price index determines the price appreciation of paintings after controlling for their physical characteristics. It is typically used to control for the observable qualities of the paintings, thus reflecting only the standardized value of Modern Indian Art.

Hedonic value of Modern Indian Art has increased by 2164% during the last 11 years.

It has grown by 131% in the last year (from 935 in 2005 to 2164 in 2006)

©2006 Srinivas K. Reddy and Mayukh Dass

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