I am looking for some reference on the art market in light of quantitative finance.
I am interested in some things:
The market in general, how is it compared to financial market ? What about common hypothesis like arbitrage opportunities, rationality of agents, risk-free asset..., the presence of derivatives ?
The formation of price, a lot of price come from auction houses. So the process of price formation is a bit different than a bid/ask process. Does this lead to different results in price modelisation ? Does this lead to different strategy ?
Prices dynamics, given one or multiple assets, are there specifical models for art prices ? (I suspect some trend by artist/by current).
Last but not least: sources do you know some sources for art prices ? theoretical papers about art prices ?