deci. economics of the arts

Price determination for a work of art, wikipedia stuff:

„Components of a work of art, like stone or paint, in general have a value much lower than the finished product. Also, the amount of labour needed to produce an item does not explain the big price differences between works of art. It seems that the value is much more dependent on experts’ and potential buyers’ perception of it. This perception has three elements:

social value, which is the social status the buyer has by owning it.

artistic value, compared to contemporary works, or as importance to later generations.

price history of the item, if a buyer uses this for his expectation of a future price at which he might sell the item again

Three kinds of economic agents determine these values: gallery owners/ museum directors, art historians and buyers who buy works of art as an investment.”

Wikipedia keeps mentioning buyers as part of the game, but I’m sure they just look around at what the experts praise and take their word for it. Only their wallets are part of the game. Unless they become experts themselves.

ieri mi-am amintit covrigii crocanți din Cluj de acum 6 ani

pretzel.  1856, from Ger. Prezel, also Brezel, from O.H.G. brezitella, from M.L. *brachitellum, presumably a kind of biscuit baked in the shape of folded arms (cf. It. bracciatella, O.Prov.brassadel), dim. of L. bracchiatus „with branches, with arms,” from L. bracchium „arm”.

există mai multe legende cu forma covrigului, una ar fi că se bazează pe mâinile copiilor împreunate la rugăciune… dar e mult mai faină legenda cu brutarul care trebuia să facă o pâine pt rege prin care să se vadă soarele de trei ori, și a văzut-o pe nevastă-sa nervoasă, punându-și mâinile în sân și beștelindu-l…