Study Links Google Hits to Auction Prices

The Scream. (Courtesy everywhere)

A new study out of Washington State University found that an increase of a single percentage point in Google hits for an artist is correlated with a 38 percent increase in auction prices.

This news comes from Pacific Standard magazine, which has more details about the study:

Arzu Aysin Tekindor, an artist and economics PhD candidate, employed hedonic regression theory—a modeling system to estimate demand relative to a product’s price and characteristics. The data set: 1,100 paintings auctioned from 1998 to 2011, a random selection of works by famous artists living in the 19th and 20th centuries.