MATHEMATICAL AND STATISTICAL MODEL OF PRICING IN THE ART MARKET: FINANCE AND MARKET EQUILIBRIUM

Abstract

The article analyzes the features of the formation of prices for art objects. The author draws attention to the ambiguity of the formation of the value of the art object and the specific mechanisms and institutions of the art market. A mathematical and statistical model is proposed to explain the formation of the price of an art object as an equilibrium of supply and demand. The article substantiates the insufficient study of the art market in the Russian-language scientific discourse. At the same time, it is proposed not previously used in the Russian-language scientific literature. approach to the study of the art market. The essence and role of Finance in the formation of prices for art objects are analyzed. The work can be useful to auction houses as institutions of the art market, theoretical and practical economists, anyone interested in art.