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9781913491482

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A brilliant study about the private rules and regulations that help create trust in the market for fine art. Full of interesting examples and history, this book will be of interest to law and economics scholars and anyone interested in how art markets function. Highly recommended. --Edward Peter Stringham, president, American Institute for Economic Research A masterful tour through the hidden world of lost art. Through fascinating case studies, Shorrtland subtly and persuasively teaches important lessons about the role of institutions and economics. --David Skarbek, author of The Puzzle of Prison Order An engrossing case book for lovers of real detective stories. A great read. --Federico Varese, author of Mafia Life Few markets are more glamorous--or more perilous--than the market for art. With billions of dollars transacted internationally and no shortage of crooks eager to grab their share, small armies would seem necessary to make the art market work. Yet remarkably, Shortland shows, its success owes mostly to private institutions, chief among them the Art Loss Register. Lost Art is a fabulous and fascinating investigation of the governance mechanisms that make the art market tick. --Peter Leeson, George Mason University

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ANJA SHORTLAND is a Professor in Political Economy at King’s College London specialising in the economics of crime. She studies private order systems in the world’s trickiest markets: hostages, hijacked ships, fine art and antiquities. She researches how people work and invest in complex and hostile territories and studies trades between legal and illegal enterprises. Her previous book, Kidnap: Inside the Ransom Business revealed how special risk insurance at Lloyd’s of London helps to bring abducted people home safely.

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