Faculty Guide

Title

Fred and Rita Richman Distinguished Professor in Economics

Economics
International Business School

Expertise

art auctions, investment returns to violins, price discrimination and anti-competitive behavior

Profile

My research interests on in the fields of the economics of art and culture and industrial organization. Specifically, recent interests have been in the areas of investment returns to violins, a structural analysis of price discrimination at the Fulton fish market, and a better method for estimating returns using repeat sales data on unique items such as art and real estate.
I enjoy teaching all levels of industrial organization and introductory economics.
My homepage is located at http://people.brandeis.edu/~kgraddy/

Awards and Honors

Pommerhene Prize for Best Paper in the Journal of Cultural Economics (2012)

Courses Taught

ECON	2a	Introduction to Economics
ECON	80a	Microeconomic Theory
ECON	135a	Industrial Organization
ECON	302a	Advanced Microeconomics II
ECON	340f	Empirical Industrial Organization
ECON/FA	87a	Economics and the Arts

Scholarship

Graddy, Kathryn. "“Taste Endures! The Rankings of Roger de Piles (†1709) and Three Centuries of Art Prices,”." Journal of Economic History (2013). (forthcoming)

Ashenfelter, Orley and Kathryn Graddy. "Art Auctions." A Handbook of Cultural Economics. 2nd ed. Ed. Ruth Towse. Edward Elgar, 2010 (forthcoming)

Graddy, Kathryn, Jon Hamilton and Rachel Campbell. "Repeat Sales Indexes: Estimation Without Assuming that Errors in Asset Returns are Independently Distributed." Real Estate Economics 40. spring (2012): 131-166.

Graddy, Kathryn, Hall, George. "A Dynamic Model of Price Discrimination and Inventory Management at the Fulton fish Market." Journal of Economics Behavior and Organization 80. 1 (2011): 6-19.

Graddy, Kathryn, and Orley Ashenfelter. "Sale Rates and Price Movements in Art Auctions." American Economic Review Paper and Proceedings 101. 3 (2011): 212-216.

Graddy, Kathryn; Chanont Banternghansa. "The Impact of the Droit de Suite in the UK: An Empirical Analysis." Journal of Cultural Economics 35. 2 (2011): 81-100.

Graddy, Kathryn; Philip Margolis. "Fiddling with Value: Violins as an Investment?." Economic Inquiry 49. 4 (2011): 1083-1097.

Graddy, Kathryn and Peter Kennedy. "When are Supply and Demand Determined Simultaneously?." Eastern Economic Journal 36. Spring (2010): 188-197.

Paul Krugman, Robin Wells, Graddy, Kathryn. Essentials of Economics, 2e. Second Edition ed. Worth Publishers, 2010.

Graddy, Kathryn. "A Note on Robust Estimation of Repeat Sales Indexes with Serial Correlation in Asset Returns." September 2009.

Graddy, Kathryn. "Book Review: Don Thompson's The $12 Million dollar shark: The Curious Economics of Contemporary Art." Rev. of The $12 Million Dollar Shark: The Curious Economics of Contemporary Art, Journal of Cultural Econoimcs vol. 33 May 2009: 233-237.

Graddy, Kathryn; Alan Beggs. "Anchoring Effects: Evidence from Art Auctions." American Economic Review 2009. June (2009): 1027-1039.

Graddy, Kathryn; Alan Beggs. "Failure to Meet the Resserve price: The Impact on the Returns to Art." Journal of Cultural Economics 2008. 32 (2008): 301-320.