Abstract
As is the case with other field theories, Urban Economics, Environmental Economics, etc. the microeconomics of the arts attempts to derive a set of particular propositions from the general propositions of Economic Theory. In the process a substantial amount of cross-fertilization takes place. The specific characteristics of art markets require modification or amplification of some general propositions of economic theory, which in turn may offer novel and possibly useful insights as well as testable hypotheses. The following propositions appear to emanate from the present paper.
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