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21st Century Chinese Art Market Boom, Ayca Deniz Ergin Jan 2018

21st Century Chinese Art Market Boom, Ayca Deniz Ergin

Summer Program for Undergraduate Research (SPUR)

This research paper provides a detailed analysis of how China has become the fastest growing art market around the world. How did the economic development in China led the country to the top in recent years, in contrast to its Western competitors? What is China’s role in the global art market scene? What changes have been made, in a socialist system, to accommodate foreign investors and what future changes should be made to sustain its growth?

Through focusing on the correlation between economic growth and art market expansions, this research develops the relationship through referencing various quantitative and qualitative ...


Essays In Information Economics, Jonathan T. Pogach May 2010

Essays In Information Economics, Jonathan T. Pogach

Publicly Accessible Penn Dissertations

This dissertation is composed of three essays considering the role of private information in economic environments. The first essay considers efficient investments into technologies such as auditing and enforcement systems that are designed to mitigate information and enforcement frictions that impede the provision of first best insurance against income risk. In the model, the principal can choose a level of enforceability that inhibits an agent's ability to renege on the contract and a level of auditing that inhibits his ability to conceal income. The dynamics of the optimal contract imply an endogenous lower bound on the lifetime utility of ...