Massimiliano Castellani
Biographic Data
| ID | 5885474 |
|---|---|
| NAME | Massimiliano Castellani |
| GIVEN NAMES | Massimiliano |
| FAMILY NAME | Castellani |
| SIGNATURE | CASTELLANI M |
| AFFILIATIONS | University of Bologna |
| ORCID | 0000-0002-5814-5902 |
| VERIFIED | Yes |
| TOTAL WORKS | 5 |
| TOTAL CITATIONS | 0 |
| WORKS AS AUTHOR | 5 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 2022 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 0 |
Before the hammer falls
This study investigates the effects of art theft on art auction sales. In particular, it focuses on the impact on the auction sales when an artist’s artwork has been stolen and reported in a public list of stolen art. By using criminal data from Interpol’s International Stolen Works of Art Database (SWoA) from 2002 to 2016 all over the world, and auction data concerning all lots put at auction by Christie’s, Sotheby’s, and Phillips in New York an…
Testing for Threshold Effects in the Presence of Heteroskedasticity and Measurement Error With an Application to Italian Strikes
We address the issue of testing for threshold nonlinearity in the conditional mean in the presence of conditional heteroskedasticity. We propose a supremum Lagrange multiplier approach to test a linear ARMA‐GARCH model versus a TARMA‐GARCH model. We derive the asymptotic null distribution of the test statistic, and this requires novel results due to nuisance parameters, absent under the null hypothesis, combined with the nonlinear moving average …
Evaluating Chef's Creativity and Restaurant Quality
The quality of fine‐dining restaurant food is complex and presents information issues in customers' quality evaluation, configuring this good as a luxury and cultural good. We investigate the role of experts in influencing customers' evaluation and other stakeholders' characteristics in such a sector by analyzing a dataset of top Italian chefs and restaurants from 2011 to 2019. To complement these data, we directly surveyed starred chefs to get t…
You can’t export that! Export ban for modern and contemporary Italian art
Overconfidence in the art market
This paper develops a Nash bargaining model of price formation in the art market. Agents can be naïve, if they are overconfident and either overestimate artistic quality or underestimate their uncertainty of artistic quality, or sophisticated, if they correctly use all the available information. Overconfidence turns out to have a positive impact on both the price and the average quality of the artworks traded in the market. The impact of overconf…
No prominent works on this page.
Overconfidence in the art market
This paper develops a Nash bargaining model of price formation in the art market. Agents can be naïve, if they are overconfident and either overestimate artistic quality or underestimate their uncertainty of artistic quality, or sophisticated, if they correctly use all the available information. Overconfidence turns out to have a positive impact on both the price and the average quality of the artworks traded in the market. The impact of overconf…
You can’t export that! Export ban for modern and contemporary Italian art
Before the hammer falls
This study investigates the effects of art theft on art auction sales. In particular, it focuses on the impact on the auction sales when an artist’s artwork has been stolen and reported in a public list of stolen art. By using criminal data from Interpol’s International Stolen Works of Art Database (SWoA) from 2002 to 2016 all over the world, and auction data concerning all lots put at auction by Christie’s, Sotheby’s, and Phillips in New York an…
Testing for Threshold Effects in the Presence of Heteroskedasticity and Measurement Error With an Application to Italian Strikes
We address the issue of testing for threshold nonlinearity in the conditional mean in the presence of conditional heteroskedasticity. We propose a supremum Lagrange multiplier approach to test a linear ARMA‐GARCH model versus a TARMA‐GARCH model. We derive the asymptotic null distribution of the test statistic, and this requires novel results due to nuisance parameters, absent under the null hypothesis, combined with the nonlinear moving average …
Evaluating Chef's Creativity and Restaurant Quality
The quality of fine‐dining restaurant food is complex and presents information issues in customers' quality evaluation, configuring this good as a luxury and cultural good. We investigate the role of experts in influencing customers' evaluation and other stakeholders' characteristics in such a sector by analyzing a dataset of top Italian chefs and restaurants from 2011 to 2019. To complement these data, we directly surveyed starred chefs to get t…
Economics (4 works) · Art History and Market Analysis (3 works) · Commercial law (2 works) · Italy: Economic History and Contemporary Issues (2 works) · Law (2 works) · Political science (2 works) · Psychology (2 works) · Social Psychology (2 works) · Advanced Statistical Methods and Models (1 work) · Advertising (1 work)