Don Thompson gets after this from another angle in "The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art". The particular thread I'm thinkin

Don Thompson gets after this from another angle in "The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art". The particular thread I'm thinking of is the purchases of Charles Saatchi. It looks externally like there's a positive feedback loop where he collects you, which makes you famous, which makes your work valuable, which he can then sell. But ... if you look at the average value of work in Saatchi's collection, it asymptotically approaches $0. The man buys a lot of art. Warehouses full of stuff that hasn't been seen. Similarly, there are a lot of poor writers in New York. Is there a positive feedback loop? Try measuring it. https://www.amazon.com/dp/0230620590 https://www.amazon.com/dp/0230620590