Статті в журналах з теми "Art auction strategy"

Abstract The art market, following the example of financial markets, is divided into a primary market, where works are traded directly from artists, and a secondary market that is mainly the auction market. Coronavirus disease 2019 (COVID-19) and galloping inflation have influenced the creation of a bull market in artwork. The high incomes of some buyers and inflation have influenced the emergence of the so-called ‘glittery’ art market. Works by neglected artists have ‘very much taken on a life of their own’: fantasy art, works by young poster artists, casting ‘nightmares’ – have been selling well for more than a year. People terrified of inflation are putting their money ‘in works of art’. The auction market dominates the primary market because anonymity makes it easier to enter the art market. The gallery market does not guarantee this anonymity. Very often, the auction market for works of art is used for money laundering. The purpose of this paper is to show that auction mechanisms are a good tool for the efficient allocation of goods and money in an area of galloping inflation and most art auctions are asymmetry.

Periodic Double Auctions (PDAs) are commonly used in the real world for trading, e.g. in stock markets to determine stock opening prices, and energy markets to trade energy in order to balance net demand in smart grids, involving trillions of dollars in the process. A bidder, participating in such PDAs, has to plan for bids in the current auction as well as for the future auctions, which highlights the necessity of good bidding strategies. In this paper, we perform an equilibrium analysis of single unit single-shot double auctions with a certain clearing price and payment rule, which we refer to as ACPR, and find it intractable to analyze as number of participating agents increase. We further derive the best response for a bidder with complete information in a single-shot double auction with ACPR. Leveraging the theory developed for single-shot double auction and taking the PowerTAC wholesale market PDA as our testbed, we proceed by modeling the PDA of PowerTAC as an MDP. We propose a novel bidding strategy, namely MDPLCPBS. We empirically show that MDPLCPBS follows the equilibrium strategy for double auctions that we previously analyze. In addition, we benchmark our strategy against the baseline and the state-of-the-art bidding strategies for the PowerTAC wholesale market PDAs, and show that MDPLCPBS outperforms most of them consistently.

This paper shows that the price of a painting sold at an art auction and the experts' pre-sale valuations are anchored on the price at which the painting previously sold at auction. We are able to separate anchoring from rational learning by using the identifying strategy that the unobservable component of quality for a particular painting remains constant between the last auction sale and the current auction sale. We interpret these results as anchoring on the part of the buyers, with the sellers and auctioneers either anticipating anchoring on the part of the buyers or exhibiting anchoring effects themselves. (JEL D44, Z11)

The recent emergence of new regions in the global art market has been structured by hub cities that concentrate key actors, such as global auction houses, influential art fairs, and galleries. Both Singapore and Hong Kong have developed explicit strategies aimed at positioning themselves as Asia’s art market hub. This followed the steep rise of the Chinese art market, but also the general perception of Asia as the world’s most dynamic art market. While Hong Kong’s emergence derives from its status as gateway to the Chinese market, and has been driven by key global players, such as the auction houses Christies’ and Sotheby’s, the Art Basel fair, and mega-galleries, Singapore’s strategy has been driven by the state. At the end of the 2000s, the city identified the art market as a new growth sector, and proactively invested, by creating a cluster concentrating international galleries and supporting art fairs, art weeks, and new world-class cultural institutions. Based on comparative fieldwork, and interviews with actors of the Singapore and Hong Kong art markets, this article shows that the two cities’ distinct strategies have generated contrasted models of “cultural hubs”, and that they play complementary roles in the structuration of the region’s art market.

Objective The purpose of this paper is to present the progress and trends of the literature on art as an investment and to outline potential research lines to be developed. Design/methodology/approach This work gathers, analyses and critically discusses the attributes of investments in art in general, and in Latin American art in particular. Findings Most studies report that art (art in general, and Latin American in particular) has offered relatively low but positive real returns, which have tended to be below those offered by stocks and similar to those realized by bonds. Art has a low correlation with other investments. Research limitations and implications The literature on the attributes of Latin American art as an investment is limited and new research would help to close the knowledge gap with respect to this segment of the art market as it continues to grow. Practical implications Similarly to the research carried out into other segments of the art market, studies on Latin American art suggest that the works of art are worth more, ceteris paribus: the more renowned the artist, the larger the work, whether they were executed in oil, and if they were auctioned at Sotheby’s or Christie’s. The paper also details a series of practical implications for those who participate in the art market. Originality/value To the best of the authors’ knowledge, this is the first exhaustive review of the literature on the attributes of Latin American art as an investment. The findings of this study are useful for academics, art collectors, auction houses, gallerists and others who take part in the arts market.

This study focuses on the problem of dynamic task allocation for a heterogeneous multiagent system (MAS) in uncertain scenarios and its application in agricultural field operation. Previous studies lacked robustness or efficiency for uncertain environments especially in agricultural field, such as agent removal, agent inclusion, changes of agent capabilities, and task changes. We present herein a novel concept of the potential field of capability influence (PFCI), and based on which, we can estimate potential overloaded tasks. This provides an opportunity to improve the allocation of the remaining tasks. Then, we propose a heuristic-based clustering auction (HBCA) method by introducing PFCI into the auction mechanism to achieve an effective and efficient task allocation. The whole method consists of the three following phases based on the auction mechanism: 1) auctioneer preprocessing phase that adopts a capability priority strategy to select the preferable agent; 2) bidder preprocessing phase that introduces the PFCI to obtain a list of clustered tasks heuristically; and 3) adaptive auction phase that applies the auction mechanism to achieve an appropriate match between agents and tasks. Numerical simulations with different uncertain field operation scenarios validate the effectiveness of the proposed method. The results show that the proposed HBCA can dramatically reduce the total assignment cost and outperform state-of-the-art methods, especially in the case of obvious variances in agent capabilities.

A core challenge in studying the real return on artist' work is the extreme difficulty accessing private records from when an artwork was first sold and thus relying on public auction data. In addition, artists do not typically receive proceeds after the initial sale. This paper, for the first time, uses archivally sourced primary market records to model returns on art and introduces a novel fractional equity structure for artists. We first model what would happen if the American artists Jasper Johns and Robert Rauschenberg had retained 10% equity in their work when it was first sold. Second, we model a portfolio return using data from the Betty Parsons Gallery and the Green Gallery. To add a portfolio analysis to the performance of “star” artists, we model the galleries as a fund invested in all of artworks sold, using auction sales as the realization event. We find that the individual Johns and Rauschenberg works would have vastly outperformed equities markets. The gallery portfolio still substantially outperforms the S&P, even including 20% transaction costs. Beyond the art market, our larger conceptual framework for retained fractional equity has broad implications for compensation of early-stage creative work in any field and for potential applications of blockchain technology. This paper was accepted by Karl Diether, finance.

Abstract Charles Stewart Carstairs (1865–1928) was a world-renowned art dealer and adviser to eminent collectors like Henry Clay Frick (1849–1919) and Andrew W. Mellon (1855–1937). As a principal member of M. Knoedler and Company—an art-dealing firm founded in about 1848 as the New York branch of the French Goupil and Company that remained active until its closure in 2011—and the director of its London headquarters for more than two decades, Carstairs was a key figure in the art market of the late nineteenth century and the early twentieth. Although his fundamental role in creating a market for Old Master paintings in the United States is now being acknowledged, his advocacy of modern and contemporary art and especially modern French painting remains largely unexplored. This article discusses his personal art collection and shows how the promotional methods he employed—including displaying Old Masters and modern and contemporary works together, a strategy being increasingly adopted by museums, galleries, and auction houses today—encouraged collector and public appreciation of modern painting.

Purpose: China has a long history of art, including watercolour painting, which has garnered international acclaim. China can gain recognition for its artistic accomplishments and contribute to the global art community by preserving and promoting the practise of watercolour painting both domestically and internationally. Theoretical framework: The tale of the development of Chinese watercolour painting is intricate and multidimensional, reflecting the impact of several historical events (Li, 2023; Yin,2022). These elements have all contributed to the creation of this stunning and lasting art form, from the rich philosophical and cultural traditions of China to the impact of aesthetic trends and technical advancements. Design/Methodology/Approach: A total of 495 respondents participated in the survey comprised of 110 watercolour artist collectors, 220 watercolour paintings and 165lectors and business intermediaries 165. This study was a cross-sectional study where the data collection period is from August to October 2021. Using Smart PLS, the collected data is analysed. Findings: The study revealed that watercolour painting is a popular art form among both artists and collectors. Watercolour paintings have been a popular art form for centuries, and this study confirms that their popularity remains strong among both artists and collectors. The delicate beauty of watercolours, with their translucent washes of colour and soft edges, is particularly appealing to those who appreciate the subtleties of art. Research, practical & social implications: This study found that watercolour paintings are highly valued by business intermediaries, who recognize their potential as investments. In fact, many galleries and auction houses specialize in selling watercolours, and the market for these works continues to grow. Originality/Value: It is important to note that not all watercolour paintings are created equal - some are more highly prized than others based on factors such as the artist's reputation, the quality of the materials used, and the subject matter depicted. Overall, this study underscores the enduring appeal of watercolour paintings and their continued relevance in today's art world.

In December 2018, “Art Sherlock” magazine reported that an engraving by Jan Saenredam (1565–1607) had been put up for auction at Galerie Bassenge in Berlin. It was marked with a stamp and a number that were characteristic of the collection of a Gdańsk merchant, Jacob Kabrun, a collection which, before the war, was the most valuable and the most substantial part of the collection of the Gdańsk City Museum. It emerged that the engraving was a war loss registered in the database of the Ministry of Culture and National Heritage (MKiDN) with the number of 55029. Thanks to the archival materials prepared by the employees of the National Museum in Gdańsk and the intervention of the MKiDN Department of Restitution of Cultural Property, the work of art was recovered. Currently, it is the only engraving of this Dutch artist among the 64 that were in Kabrun’s collection before the war. It shows the bust of the outstanding German artist, Hans von Aachen (1552–1615). The work was created on the basis of a drawing of his student, Pieter Isaacsz (1569–1625). The article is an attempt to supplement and expand the interpretation of the rich content accompanying the image of the artist, as well as to present the context in which the engraving was created. This portrait, enriched with additional spectacular elements, illustrates the success of Hans von Aachen, who served as the court painter of Rudolf II. In addition to advising the ruler on the creation of a collection of works of art, he carried out diplomatic missions and made contacts with the most influential and powerful people in Europe at that time. This multifaceted portrait is also a sign of the author’s erudition and a testimony to his skills and knowledge. This is not only a tribute of the younger artist to his teacher, but also a well thought out strategy that was supposed to strengthen the reputation of Pieter Isaacsz and contribute to his own fame.

Purpose: The purpose of this study is to investigate the impact of the current watercolour painting market situation in China on the development of the watercolour painting market in China. In addition, this study investigates the role of the watercolour painting market environment in China as a moderating variable in the relationship between the current state of the watercolour painting market in China and its future development. Theoretical framework: Contemporary Chinese art and culture exist in a society that is open and pluralistic. Through the efforts of several generations, they have created not only a magnitude but also a vast market. In a technologically based society, technologically based painting is on the verge of extinction. The construction of cultural artistic conception and character is a novel topic in the art education and instruction of contemporary Chinese watercolour painting. Design/Methodology/Approach: A total of 495 respondents participated in the survey comprised of 110 watercolour artist collectors, 220 watercolour paintings and 165 lectors and business intermediaries 165. This study was a cross-sectional study where the data collection period is from August to October 2021. A survey with a closed-ended and self-administered format was conducted in order to collect data. The questionnaire is divided into two sections, Smart PLS was used to analyse the data and identify any significant relationships between the variables. There was a correlation between being a colour artist and collecting watercolour paintings. Findings: This study focuses on watercolour painters, watercolour collectors, and commercial intermediaries., according to the findings. This suggests that artists are more likely than non-artists to collect watercolour paintings. In addition, the study revealed that business intermediaries play a crucial role in facilitating the sale of these paintings. The study revealed that watercolour painting is a popular art form among both artists and collectors. Watercolour paintings have been a popular art form for centuries, and this study confirms that their popularity remains strong among both artists and collectors. The delicate beauty of watercolours, with their translucent washes of colour and soft edges, is particularly appealing to those who appreciate the subtleties of art. Research, practical & social implications: This study found that watercolour paintings are highly valued by business intermediaries, who recognize their potential as investments. In fact, many galleries and auction houses specialize in selling watercolours, and the market for these works continues to grow. Originality/Value: it is important to note that not all watercolour paintings are created equal - some are more highly prized than others based on factors such as the artist's reputation, the quality of the materials used, and the subject matter depicted. Overall, this study underscores the enduring appeal of watercolour paintings and their continued relevance in today's art world. This research provides valuable insights into the relationship between colour artists, collections of watercolour paintings, and art industry intermediaries.

Along with the prevalence of photovoltaic (PV) procurement contracts, the corruption between auctioneers and potential electricity suppliers has attracted the attention of energy regulators. This study considers a corruption-proof environment wherein corruption is strictly suppressed. It elaborates a mechanism to explore the impact of corruption-proof measures on PV procurement auctions. It adopts incentive compatible constraints based on revelation principle to reflect PV firms' optimal utilities. It employs first-price and first-score auctions and uses the Bayesian Nash equilibrium to provide a description of market outcomes. The results show that several strategies have different impacts on social welfare, PV firms' utility, and the benefits of corruption. First, a first-price auction cannot act as a suitable policy because it may encourage corruption. Second, the first-score choice is desirable for social welfare to fit the forthcoming high-quality and low-price surroundings. Third, the first-score strategy maximizes PV firms' utility and total income. The implications suggest that regulators ought not to employ first-price auctions in the future PV market from the perspective of social welfare. Another disadvantage of the first-price approach is that it enables the PV firm to maintain the utmost benefit from corruption.

Purpose The purpose of this paper is to present the formulation of the first exhaustive price index for Argentinian (and other Latin American countries) visual artists using 5,069 works sold in auctions by 71 Argentinian artists during the years 1980-2014. Design/methodology/approach The authors estimated a regression of hedonic prices using the ordinary least squares method. When the regression was run and the results were analysed, the authors then estimated the annual price index of Argentinian artists’ work to then compare them with different financial and economic variables. Findings The average annual nominal arithmetic rate of return in dollars for Argentinian art during this period was 6.81 per cent, with a 29.11 per cent standard deviation. Argentinian art shows a low correlation with Argentinian and US companies’ shares and a slightly negative correlation with US bonds. This is the reason for artworks to be included in investors’ portfolios despite the relatively high volatility. Research limitations/implications Valuating works of art in Argentina can be explained by a series of their attributes. The benefits of art as an investment should be contrasted with factors including illiquidity and high transaction costs that are inherent when investing in works of art. Practical implications Argentinian artists’ works have higher prices when, ceteris paribus, they are dated; they are auctioned in either Christie’s, Sotheby’s, Galería Arroyo, Roldan & Cia, Meeting Art, or Naon & Cia; they are oil or acrylic paintings; they are larger in size – although the price increase is decreasing when the size of the painting increases; and when the artist dies before their work is auctioned. Originality/value This work presents the first rigorous price index of Argentinian artists’ works. Additionally, and as far as the authors have been able to observe, the time-period in this article is the longest that has been used in studies on art as an investment in emerging markets.

This study investigates the ongoing transformation in galleries, auctions, and museums in Hong Kong, Shanghai, Taipei, and Singapore, where new models for art transactions and exhibiting practices lead to unprecedented evolution in the global art market. While the pandemic hit the art market unprecedentedly, art organizations in Asia are seeing the light at the end of the tunnel as the digitalization of online auctions and virtual art-viewing technology has made up for the cancellation of art events. We are also seeing increased cross-regional and cross-national collaborations in marketing and exhibiting activities. Whether or not it is part of their active strategy, to keep up with the rapid market changes, galleries and auctions must now devote more resources to their digital platforms. Affluent art collectors in this region see art consumption not only as a socially conditioned, symbolic mechanism manifesting wealth and cultural capital but also as an attractive investment vehicle with an increased appetite for the financialization of artworks. What are the benefits and complications of the digitalization of online art transactions and art viewing? How do multi-sited auctions and exhibitions indicate the increased demand for collaboration between commercial art organizations and art institutions? Based on fieldwork and semi-structured interviews with actors in the art markets and secondary Chinese resources, this research generates insights into organizational behaviors in Asia’s art scene and how the art market players actively adapt and persevere via taking on new, entrepreneurial models of operation and speeding up trans-regional and trans-national connectivity with their Western counterparts.

<abstract><p>Combinatorial auction is an important type of market mechanism, which can help bidders to bid on the combination of items more efficiently. The winner determination problem (WDP) is one of the most challenging research topics on the combinatorial auction, which has been proven to be NP-hard. It has more attention from researchers in recent years and has a wide range of real-world applications. To solve the winner determination problem effectively, this paper proposes a hybrid ant colony algorithm called DHS-ACO, which combines an effective local search for exploitation and an ant colony algorithm for exploration, with two effective strategies. One is a hash tabu search strategy adopted to reduce the cycling problem in the local search procedure. Another is a deep scoring strategy which is introduced to consider the profound effects of the local operators. The experimental results on a broad range of benchmarks show that DHS-ACO outperforms the existing algorithms.</p></abstract>

Introduction: Article 45 paragraph 1 letter e creates legal uncertainty regarding the rights of the auction winner in terms of transfer of rights and control of the auction object due to a blockade from the debtor or other party.Purposes of the Research: The purpose of this research is to examine the legal certainty of Article 45 Paragraph 1 Letter e of Government Regulation No. 24 of 1997 concerning Land Registration against blocking of auction objects and legal protection for auction winners executing mortgage rights in the event of blocking of auction objects.Methods of the Research: The research method used is normative legal research.Results of the Research: The results of the study show that the form of legal protection for the auction winner is preventive legal protection, in which the name transfer process by the auction winner should still be carried out by understanding the meaning of Article 45 paragraph 1 lettere, namely the material claim or dispute referred to is limited to ownership disputes, not debts. Furthermore, legal protection is repressive, i.e. the auction winner can request assistance from the District Court to empty the object. The auction winner can hold the seller accountable in the form of compensation, and the auction winner can file a lawsuit against the unlawful act against the blockade applicant and the Land Office as the institution authorized to carry out block records.

Purpose Relatively little is known about the determinants of the prices of paintings. The purpose of this paper is to analyse the price determinants of the art of Joan Miró, one of the great masters of Modern Art. Design/methodology/approach The authors analysed 255 artworks by Miró sold at Sotheby’s and Christie’s between 2003 and 2017, and performed a hedonic price regression to measure the impact of a series of variables on the prices of this artist’s works. Findings Miró’s works command higher prices, ceteris paribus, when they were painted on canvas, were sold at Sotheby’s and in New York City or London, were traded during the evening session and depending on the period in which they had been painted, the size of their surface area, the number of words used to describe the respective lot and whether they had appeared in an art book. The prices of Miró’s paintings increased substantially between 2003 and 2008 and then declined, coinciding with the global financial crisis of 2009. Research limitations/implications The results were obtained from prices established in art auctions, which represent only one portion of the market. Originality/value This is the first exhaustive study carried out on the determinants of the prices of Joan Miró’s works. The artist represents an ideal case due to the large number of his works that have been sold at auctions. As yet, only studies of Pablo Picasso and Andy Warhol have been conducted. Joan Miró has well-defined artistic periods, which also allows us to determine the impact on the price of the works of the period in which it was created. This paper also offers a methodological contribution to parties involved in the art sector (artists, galleries, collectors, investors, museums, etc.).

This paper uses Callon's actor network theory (ANT) to analyse the emergence of an inter-organisational network innovation: electronic livestock auction systems in the United Kingdom. It is based on a study of the development of these systems by drawing on interviews with developers, operators and users of the competing systems and focusing on the social networks that evolved in their conception and adoption. The validity of ANT as a framework for the analysis of innovation is critically considered. The paper concludes that complexity and barriers to network building led the networks to be constructed from existing components and social linkages, thereby limiting the potential of the innovation to incorporate radical change in the social structure.

Traffic congestion in urban road networks is a costly problem that affects all major cities in developed countries. To tackle this problem, it is possible (i) to act on the supply side, increasing the number of roads or lanes in a network, (ii) to reduce the demand, restricting the access to urban areas at specific hours or to specific vehicles, or (iii) to improve the efficiency of the existing network, by means of a widespread use of so-called Intelligent Transportation Systems (ITS). In line with the recent advances in smart transportation management infrastructures, ITS has turned out to be a promising field of application for artificial intelligence techniques. In particular, multiagent systems seem to be the ideal candidates for the design and implementation of ITS. In fact, drivers can be naturally modelled as autonomous agents that interact with the transportation management infrastructure, thereby generating a large-scale, open, agent-based system. To regulate such a system and maintain a smooth and efficient flow of traffic, decentralised mechanisms for the management of the transportation infrastructure are needed. In this article we propose a distributed, market-inspired, mechanism for the management of a future urban road network, where intelligent autonomous vehicles, operated by software agents on behalf of their human owners, interact with the infrastructure in order to travel safely and efficiently through the road network. Building on the reservation-based intersection control model proposed by Dresner and Stone, we consider two different scenarios: one with a single intersection and one with a network of intersections. In the former, we analyse the performance of a novel policy based on combinatorial auctions for the allocation of reservations. In the latter, we analyse the impact that a traffic assignment strategy inspired by competitive markets has on the drivers' route choices. Finally we propose an adaptive management mechanism that integrates the auction-based traffic control policy with the competitive traffic assignment strategy.

Blockchain technology is a decentralized and secure paradigm for data processing, sharing, and storing. It relies on consensus protocol for all decisions, which focuses on computational and resource capability. For example, proof of work (PoW) and proof of stake (PoS) are the most famous consensus protocols that are currently used. However, these current consensus protocols are required to recruit a node with a high computational or a large amount of cryptocurrency to act as a miner node and to generate a new block. Unfortunately, these PoW and PoS protocols could be impractical for adoption in today’s technological fields, such as the Internet of Things and healthcare. In addition, these protocols are susceptible to flexibility, security, and fairness issues, as they are discussed in detail in this work. Therefore, this paper introduces a proof of fairness (PoF) as a dynamic and secure consensus protocol for enhancing the mining selection process. The selection of the miner node is influenced by numerous factors, including the time required to generate a block based on the transaction’s sensitivity. Firstly, a reverse auction mechanism is designed as an incentive mechanism to encourage all nodes to participate in the miner selection process. In a reverse auction, each node will draw its strategy based on its computational capability and claimed cost. Secondly, an expressive language is developed to categorize transaction types based on their sensitivity to processing time, ensuring compatibility with our miner selection process. Thirdly, a homomorphic concept is designed as a security and privacy scheme to protect the bidder’s data confidentiality. Finally, an extensive evaluation involving numerical analysis was carried out to assess the efficiency of the suggested PoF protocol, which confirms that the proposed PoF is dynamic and more efficient than current PoW and PoS consensus protocols.

В статье раскрываются ключевые этапы и особенности открытия картинной галереи как бизнеса, уточняются характерные риски, сопровождающие предпринимателя на каждом из этапов. Анализируются особенности арт-бизнеса и современное состояние рынка искусств в России и в мире. Определяется фундаментальное значение экспертности предпринимателя и выбора рынка, его исследования в решении задач открытия коммерчески эффективного арт-бизнеса. На примере картинной галереи выделяется весь цикл открытия бизнеса – от исследования рынка до финансирования, выбора места размещения и маркетинга. В общих чертах описываются каждый из обозначенных этапов и определяются риски, которые требуют учета со стороны предпринимателя. Отдельное внимание уделяется элементам коммерческой функции в бизнес-модели, среди которых рассматриваются источники дохода картинной галереи: доходы от выставок, показов, событийных мероприятий, доходы от продаж и аукционов, доходы от консультаций, доходы от инвестиций в ценности и т. п. Делаются выводы о необходимости комплексного бизнес-планирования, проработки бизнес-стратегии и реализации принципов риск-менеджмента при открытии картинной галереи. Исследование показывает, что открытие картинной галереи является в целом коммерчески перспективным, при условии что будут соблюдены и учтены как традиционные риски, так и специфические, свойственные арт-бизнесу. The article reveals the key stages and features of opening an art gallery as a business, clarifies the characteristic risks accompanying an entrepreneur at each stage. The features of the art business and the current state of the art market in Russia and in the world are highlighted. The fundamental importance of an entrepreneur’s expertise and market choice, his research in solving the problems of opening a commercially effective art business is determined. Using the example of an art gallery, the entire cycle of starting a business is highlighted, from market research to financing, location selection and marketing. Each of the designated stages is described in general terms and the risks that need to be taken into account by the entrepreneur are identified. Special attention is paid to the elements of the commercial function in the business model, among which the sources of income of the art gallery are considered: income from exhibitions, screenings, event events, income from sales and auctions, income from consultations, income from investments in values and growth of their market value, etc. Conclusions are drawn about the need for comprehensive business planning, business strategy development and implementation of risk management principles when opening an art gallery. The study shows that the opening of an art gallery is generally commercially promising, provided that both traditional risks and specific features inherent in the art business are respected and taken into account.

Amount raised: N17,307,000 Background and context: The power of games for social change is well documented. Football, the world's most popular game is a common passion shared by most Nigerians across all divides. It defies all barriers and unites people globally. Beyond the potential for cancer awareness creation using football games, it can also be used to raise funds for cancer course. Aim: The aim was to increase cancer awareness via community participation and involvement as well as raise funds for cancer patients. To encourage the population to engage in healthy lifestyles and physical activities in lowering the risks of cancer. Strategy/Tactics: We partnered with the League Management Company- Nigeria Professional Football League and the Nigerian Football Federation (NFF) for technical support to portray a tone of professionalism in our novelty football tournament. We worked a long side with expert active, retired, Nigerian and international professional footballers as well as artists to bring out in mass fans and the community at large toward achieving our goals. Radio and television jingles were made to ensure maximum reach out to the masses. Social media hype was done where some selected players called on to their fans to get involved. An awareness 5-km walk was organized where kits (T-shirts, face caps, wrist bands) were sold in addition to the tickets for the tournament. Footballers signed on various T-shirts which were auctioned during the tournament as well as arts and jewelry. Program process: Active and retired footballers were engaged as well as prominent local artist to bring out crowd in mass crowd that benefitted in this campaign. All transactions made were through the foundation's account for credibility. Costs and returns: Costs: media and logistics - N1,000,000, walk kits and jerseys - N1,500,000, food and refreshments - N1,300,000, security - N200,000, event planners - N300,000, kids corner - N500,000. Total N4,800,000 Returns: tickets and coupon sales - N1,057,000, walk kits sold - N 3,050,000, players registration - N200,000, teams registration - N4,000,000, stands sold - N250,000, auctioned art - 1,000,000, auctioned jerseys - N1,500,000, auctioned jewelry - 250,000, donations received - N10,800,000. Total N22,107,000 What was learned: A lot can be achieved collectively as a community in reducing the burden of costs in the treatment of cancer.

Autonomous vehicles (AV) can be programmed to act cooperatively. Previous research on cooperative and autonomous vehicles (CAV) suggests they can substantially improve traffic system operations in terms of mobility and safety. However, these studies do not explicitly take each vehicle’s potential gain/loss into consideration and ignore their individual levels of willingness to cooperate. They do not account for ethics and fairness either. In this study, several cooperation/courtesy strategies are proposed to address the above issues. These strategies are grouped into two categories based on non-instrumental and instrumental principles. Non-instrumental strategies make courtesy/cooperation decisions based on some courtesy proxies and a user-specified courtesy level, while instrumental strategies are based only on courtesy proxies related to local traffic performance. Also, a new CAV behavior modeling framework is proposed based on our previous work on cooperative car-following and merging (CCM) control. With such a framework, the proposed courtesy strategies can be easily implemented. The proposed framework and courtesy strategies are coded in SUMO microscopic traffic simulator. They are evaluated considering different levels of traffic demand on a freeway corridor consisting of a work zone and three weaving areas of different types. Interesting findings are drawn from the simulation results, one of which is that the instrumental Local Utilitarianism strategy performs the best in terms of mobility, safety, and fairness. In the future, auction-based strategies can be considered to model how CAV make decisions.

Whereas trust is the cornerstone of any market’s functioning, it is of particular importance in markets that are unregulated, illiquid, and opaque, such as the art market. This study examines the role of authenticity, as captured by provenance information in auction catalogs, on the probability of auctioned oil paintings, watercolors, and prints being sold; their price formation; and returns. Auction catalogs include four authenticity dimensions: pedigree (ownership “blockchain,” descendance information; type of past owners, such as renowned collectors; and past sales records), exhibition history (e.g., in famous museums or galleries), literature coverage (e.g., in catalogues raisonnés or authoritative press), and certification (e.g., artist’s physical testimonial, expert opinions). We find that trust, proxied by provenance information, increases the probability of a work being sold by up to 4%, leads to hammer price premiums up to 54%, and increases annualized returns by 5%–16%. To address potential endogeneity problems between the provision of provenance and past prices/price expectations, we perform quasi-natural experiments in difference-in-differences settings on auction houses’ provenance policy changes following authenticity litigation and on a contamination effect of the discovery of fakes and forgeries on the oeuvre of forged artists. We also test transactions less affected by past prices, such as estate sales following the death of a collector. The findings on the relation between provenance and prices are robust to artist reputation, artistic style, auction house reputation, art market liquidity, and artist career timing. This paper was accepted by Tomasz Piskorski, finance. Funding: Yuexin Li gratefully acknowledges supports from the National Natural Science Foundation of China [Grant 72204257] and the Area Studies Fund of Renmin University of China [Grant AS2022002]. This study is partially funded by the Tilburg Alumni Fund. Supplemental Material: The online appendix and data are available at https://doi.org/10.1287/mnsc.2022.4633 .

Problem definition: Dynamic forecasting models in auctions have fallen short on two dimensions: (i) the lack of an equilibrium model for final bids and (ii) the lack of a winner’s curse (i.e., a tendency to overpay conditional on winning the auction) adjustment to allow bidders to account for a common value component in the auction item. In this paper, we develop a methodology to accurately predict equilibrium stage bids from the initial bidding dynamics and quantify the impact of the winner’s curse. This methodology allows us to conduct policy simulations to optimize auction design parameters. Methodology/Results: Dynamic auctions typically have a stage of high exploratory activity, followed by an inactivity period, and then an equilibrium stage of last-minute bids with sharp jumps. With a Kalman filter approach, we use exploratory stage bids to predict an auction item’s valuation distribution. We feed this prediction into an equilibrium model and apply item-specific adjustments for winner’s curse, bidder heterogeneity, and inactivity period. We use the resulting equilibrium model to predict the equilibrium stage bids. Our methodology improves the forecast of equilibrium stage bids by 11.33%, on average, compared with a state-of-the-art benchmark. This improvement is even higher (18.99%) for common value auctions. We also find that (i) significantly more (respectively, fewer) bidders internalize the winner’s curse in common value (respectively, private value) auctions; (ii) bidders in common value auctions decrease their bids by 6.03% because of the winner’s curse; and (iii) the inactivity period has a lesser impact on the equilibrium stage bids in private value auctions. Managerial implications: Our proposed methodology is intended to facilitate the need in academia and practice for real-time bid predictions that encompass different levels of the common value component in auctions. Using our methodology, auction platforms can support their choice of minimum bid increment policies and decide how to allocate resources across different auctions to mitigate the adverse effects of the winner’s curse. Supplemental Material: The online appendix is available at https://doi.org/10.1287/msom.2022.1165 .

Abstract In the context of a booming art market in Paris, eighteenth-century art dealers began to exploit authorship as a value-enhancing strategy. Using Jean-Baptiste Pierre Lebrun’s business as a case study, we show that art dealers purposefully used a firm scale of authentication to create product differentiation and to boost auction dynamics and revenues by reordering the lots before the sale in leaflets known as feuilles de vacation. Our empirical findings support the hypothesis of the development of a market driven by the quest for the artist’s hand in pre-revolutionary Paris, with differential use of connoisseurial knowledge, depending on buyers’ profiles.

PurposeThe price of a painting is determined by multiple variables, including color-related variables. Colors are important in an economic analysis. This study aims to analyze the paintings executed by Jean-Michel Basquiat (the famous street artist from the 1980s' New York City) and sold at auction to study the potential effect of color intensity, luminosity and color contrast on the prices of his paintings. The authors also study the case of the op art master, Carlos Cruz-Diez, as a robustness analysis to the main results. The analysis that the authors present may be of interest to academicians and to participants in the art market.Design/methodology/approachThe authors run a hedonic regression model considering 306 paintings (executed by Basquiat alone), and 41 works painted collaboratively between Basquiat and Warhol and sold at auction (2003–2017). The data and the images corresponding to each painting were hand-collected from the websites of several auction houses and complemented with information obtained from the Artprice and Blouin websites.FindingsIncreases in color intensity, luminosity and color contrast have a positive effect on art prices. The authors also find that color intensity is even more recognized (as reflected by higher prices) for paintings belonging to Basquiat's most appreciated (understood as most expensive) artistic period (1980–1983) and during the second part of the sample period (2011–2017). The authors find similar results for Cruz-Diez. The authors also estimate that Basquiat's artworks made collaboratively with Andy Warhol are worth 55% less than those made only by Basquiat. An investment in Basquiat's paintings generated an average annual compounded return of 16.81% (2003–2017), clearly overperforming the S&P 500.Research limitations/implicationsThe main limitation of the hedonic regression method lies in the need to have a significant and varied sample to identify the true effect of each variable on the price of the good. Another limitation is that we are only able to use art prices from auctions, as this is the only comprehensive source of data that is publicly available. These two limitations are common to all studies that use the hedonic pricing model. This paper has implications not only for the art pricing (and more generally, asset pricing) literature, but also for the fields of psychology and marketing.Originality/valueThis is the first paper that highlights the importance of analyzing the price impact of color intensity throughout the artistic periods of a painter, finding that color intensity is even more appreciated (as reflected by higher prices) for paintings belonging to an artist's most recognized period. In the case of color contrast, the authors present a novel way to estimate this variable.

AbstractThis paper presents a task allocation strategy for a multi-robot system with a human supervisor. The multi-robot system consists of a team of heterogeneous robots with different capabilities that operate in a dynamic scenario that can change in the robots’ capabilities or in the operational requirements. The human supervisor can intervene in the operation scenario by approving the final plan before its execution or forcing a robot to execute a specific task. The proposed task allocation strategy leverages an auction-based method in combination with a sampling-based multi-goal motion planning. The latter is used to evaluate the costs of execution of tasks based on realistic features of paths. The proposed architecture enables the allocation of tasks accounting for priorities and precedence constraints, as well as the quick re-allocation of tasks after a dynamic perturbation occurs –a crucial feature when the human supervisor preempts the outcome of the algorithm and makes manual adjustments. An extensive simulation campaign in a rescue scenario validates our approach in dynamic scenarios comprising a sensor failure of a robot, a total failure of a robot, and a human-driven re-allocation. We highlight the benefits of the proposed multi-goal strategy by comparing it with single-goal motion planning strategies at the state of the art. Finally, we provide evidence for the system efficiency by demonstrating the powerful synergistic combination of the auction-based allocation and the multi-goal motion planning approach.

Digital technology, which appeared in the '80s and consolidated itself in the following decade with what was called the “third industrial revolution”, has transformed not only our daily environment, but also the way in which we produce and experience the artistic work. Digital art, a subcategory of the so-named art of the new media, presents multiple forms and is in continual evolution, parallel to the devices which make it possible; but its commercialisation in the contemporary art market becomes complex, so digital works present a series of characteristics such as the paperless ofice, obsolescence and reproducibility which may be considered to be not particularly profitable by collectors. Despite this, in recent months the sale of some digital artworks, to which numerous texts are referred to under the name of cryptoart, have increased notably, reaching figures in the millions for the first time in auction houses. The commercial success of these pieces is due to the fact that, together with the work's archive, they include a type of cryptographic certificate, the non- fungible-tokens or NFTs, which collect the the work's data and inscribe them in a blockchain; transforming a multiple and disseminated work into a digital item that is unique and traceable, whose property can be transmitted as one would do with any other object in the offline world. Although they favour in principle the creation and sale of digital art, NFTs present their own problems, especially related to their access, use and sustainability; are NFTs a permanent tool or only a method of fleeting speculation? How does this certification affect property and the author's rights? Is it possible and will it be sustainable to employ them as a strategy for the preservation of digital works? This article carries out an analysis of the principal characteristics and problems of digital art in a general sense, as well as the solutions and preoccupations which the cryptographic certificates offer in all aspects in the life of a work of art: production, dissemination and preservation.

Deep learning technology has grown significantly in new application scenarios such as smart cities and driverless vehicles, but its deployment needs to consume a lot of resources. It is usually difficult to execute inference task solely on resource-constrained Intelligent Internet-of-Things (IoT) devices to meet strictly service delay requirements. CNN-based inference task is usually offloaded to the edge servers or cloud. However, it maybe lead to unstable performance and privacy leaks. To address the above challenges, this paper aims to design a low latency distributed inference framework, EdgeCI, which assigns inference tasks to locally idle, connected and resource-constrained IoT device cluster networks. EdgeCI exploits two key optimization knobs, including: (1) Auction-based Workload Assignment Scheme (AWAS), which achieves the workload balance by assigning each workload partition to the more matching IoT device; (2) Fused-Layer parallelization strategy based on non-recursive Dynamic Programming (DPFL), which is aimed at further minimizing the inference time. We have implemented EdgeCI based on PyTorch and evaluated its performance with VGG-16 and ResNet-34 image recognition models. The experimental results prove that our proposed AWAS and DPFL outperform the typical state-of-the-art solutions. When they are well combined, EdgeCI can improve inference speed by 34.72% to 43.52%. EdgeCI outperforms the state-of-the art approaches on the tested platform.

Purpose The present study aims to provide a roadmap for meeting the carbon-free, green energy production target within the stipulated period while also considering climate targets through a sustainable auctioning scheme. Design/methodology/approach The research outlines the opportunity to design auctions based on qualitative research, the impact of auctions on energy costs and thus the feasibility of suggested auctioning schemes based on country-specific empirical evidence and benefits. Findings The conclusions show that this may result in various advantages for emerging economies relating to technology-neutral site-specific auctions if designed according to state-specific socio-economic conditions. Originality/value The planned addition to the state-of-the-art in the renewable energy (RE) field of this paper is that it intends to bridge the gap between theory and practice. The analysis has concepts for research, practice and/or community. Thus, it can serve as a primary source of literature reference for those willing to learn more about the aspects of cost related to RE.

Purpose This study aims to propose an efficient dual-robot task collaboration strategy to address the issue of low work efficiency and inability to meet the production needs of a single robot during construction operations. Design/methodology/approach A hybrid task allocation method based on integer programming and auction algorithms, with the aim of achieving a balanced workload between two robots has been proposed. In addition, while ensuring reasonable workload allocation between the two robots, an improved dual ant colony algorithm was used to solve the dual traveling salesman problem, and the global path planning of the two robots was determined, resulting in an efficient and collision-free path for the dual robots to operate. Meanwhile, an improved fast Random tree rapidly-exploring random tree algorithm is introduced as a local obstacle avoidance strategy. Findings The proposed method combines randomization and iteration techniques to achieve an efficient task allocation strategy for two robots, ensuring the relative optimal global path of the two robots in cooperation and solving complex local obstacle avoidance problems. Originality/value This method is applied to the scene of steel bar tying in construction work, with the workload allocation and collaborative work between two robots as evaluation indicators. The experimental results show that this method can efficiently complete the steel bar banding operation, effectively reduce the interference between the two robots and minimize the interference of obstacles in the environment.

This study proposes a method to reduce the cost for acquiring impressions for location-based, mobile advertising firms. Such firms act on behalf of advertisers to execute mobile, in-app, ad campaigns. Ad space is sold on ad exchanges that auction impressions one-at-a-time, on a real-time basis. In this paper, we examine whether ad firms should work with one or multiple ad exchanges to minimize the total procurement cost (equal to the cost incurred to acquire impressions plus the computing cost). By working with more ad exchanges, the ad delivery firm can bid lower on each exchange and potentially save on the total procurement cost. However, ad exchanges typically require ad firms to spend a minimum amount on the exchange. Hence, it is not smart to work with an exchange but acquire very few impressions from this exchange. Working with multiple exchanges also incurs a higher computing cost, corresponding to the computing capacity needed to support the bidding architecture. We solve an optimization problem to determine the optimal number of ad exchanges to use to acquire impressions and the optimal bidding policy on each of these exchanges. We also propose a novel, selective bidding strategy where some bid requests are returned with a zero bid. That is, the ad firm deliberately passes on some opportunities to win impressions. Doing so reduces the computing cost (because returning a zero bid expends minimal computing resources). However, the firm needs to bid higher on other opportunities to meet its demand. We find the optimal selective bidding strategy in addition to the optimal number of ad exchanges and the optimal bidding strategy when non-zero bids are returned. Finally, we demonstrate our solution for a real ad firm (Cidewalk) where the firm is shown to reduce its total cost by 33% by working with multiple ad exchanges (instead of working with a single ad exchange) and the use of selective bidding (instead of returning a nonzero bid for every bid request).

In this paper, we propose a new scheme for optimal resource (i.e, power) allocation in a cooperative wireless communication system, using a type of game called the Bidding game. Previous related works have all considered networks with multiple source nodes interacting with either single or multiple relays, without paying so much attention to how partners are selected for cooperation. However because of the importance of partner selection as an integral part of an efficient cooperative communication network, which also includes resource allocation, we propose this new game-based resource allocation scheme, in which the conventional theories of economic bidding are applied. In this work, we model the cooperative communication network as a single-user, multi-relay system in which the source acts as the auctioneer while the relays or partners act as the bidders in the game. The resource being auctioned here is power. The relay which offers the highest bid in terms of price is first selected by the source node and then allocated power by the source node. Our proposed scheme is aimed at answering the question of how maximally or optimally the power should be allocated in the network by the source node so as not to violate the power constraint. We show that there exists bidding and pricing mechanisms or strategies that lead to the maximization of network throughput or utility in cooperative communication networks. We also see in our simulation results that there is convergence to the Nash equilibrium which proves the correctness of our scheme.

Kenyan tea though acclaimed globally as a high quality product available all year round continues to face growing competition both regionally and globally. This has resulted to a decline in its market share in the global market. The main objective of the study was to examine the influence of strategic market development practices on competiveness of Kenyan Tea in the global market. The study used cross-sectional survey design to collect both qualitative and quantitative data from the respondents. The target population consisted of all one hundred and eighty-nine members of the East Africa Tea Trade Association (EATTA) who participate in the tea auction at Mombasa. The target population was categorized into organizational population and the respondents’ population. Respondents’ population comprised of four top managers from every organization. The sampling frame for this study was seven hundred fifty-six managers who included Chief Executive Officer, Finance Director, Marketing Manager and Operations manager who acted as the major agents of the entire value chain in the tea industry from the producer to the final international consumer. Stratified sampling technique was used to select a sample for buyers, brokers, warehouse, packers and associate members while purposive sampling technique was used to select the managers who represented both the small-scale and large-scale producers. To obtain the desired sample size for the study with the organizational population of 189, Slovin’s formula (1960); n = N/(1+Ne2), was applied. Where; n = Sample Size N = Total Population e = Error of Tolerance with a confidence level of 95 % (giving a margin error of 0.05). The main instrument used to collect primary data from the sampled respondents was structured and unstructured questionnaire. The questionnaire underwent pilot study to test for the validity and reliability of the research instrument. Internal consistency of the questionnaire was determined by use of Cronbach’s Coefficient Alpha (α). Collected data was further prepared for analysis using statistical package for social sciences (SPSS) to generate descriptive and inferential statistics. Data was analysed using percentages, mean and standard deviation while t-tests and p-value was used to test the hypothesis. Pearson correlation coefficient (r) was derived to show the nature and strength of the relationship of the variables where Coefficient of determination (R2) was used to measure the amount of variation in the dependent variable as explained by the independent variable. The study findings indicated that there was a positive relationship between competitiveness of Kenyan tea and strategic market development practices as signified by a coefficient of 0.507. This meant that a 1% change in Strategic Market Development practices increases competitiveness of Kenyan in the global market by 0.507 units. Such increase as revealed by the study was attributed to adoption of market penetration, market segmentation, and market diversification strategies which in the long run created new customers in new segments as well as expansion of the potential market for Kenyan tea in the global market. The study concludes that Market segmentation strategy may be executed in diverse criterion including demographic, geographical, and behavioural segmentation among others. The study emphasized on demographic market segmentation as a strategic market development practice to enhance competitiveness of Kenyan Tea in the global market. The study recommended that to boost competitiveness of Kenyan Tea globally good local and international marketing strategies need to precede the act of exportation. This may be done through organizing consumers into competent consumer associations, promoting market intelligence and branding Kenyan on international markets.

Introduction Ireland did not have a tradition of printed cookbooks prior to the 20th century. As a consequence, Irish culinary manuscripts from before this period are an important primary source for historians. This paper makes the case that the manuscripts are a unique way of accessing voices that have quotidian concerns seldom heard above the dominant narratives of conquest, colonisation and famine (Higgins; Dawson). Three manuscripts are examined to see how they contribute to an understanding of Irish social and culinary history. The Irish banking crisis of 2008 is a reminder that comments such as the one in the title of this paper may be more then a casual remark, indicating rather an underlying anxiety. Equally important is the evidence in the manuscripts that Ireland had a domestic culinary tradition sited within the culinary traditions of the British Isles. The terms “vernacular”, representing localised needs and traditions, and “polite”, representing stylistic features incorporated for aesthetic reasons, are more usually applied in the architectural world. As terms, they reflect in a politically neutral way the culinary divide witnessed in the manuscripts under discussion here. Two of the three manuscripts are anonymous, but all are written from the perspective of a well-provisioned house. The class background is elite and as such these manuscripts are not representative of the vernacular, which in culinary terms is likely to be a tradition recorded orally (Gold). The first manuscript (NLI, Tervoe) and second manuscript (NLI, Limerick) show the levels of impact of French culinary influence through their recipes for “cullis”. The Limerick manuscript also opens the discussion to wider social concerns. The third manuscript (NLI, Baker) is unusual in that the author, Mrs. Baker, goes to great lengths to record the provenance of the recipes and as such the collection affords a glimpse into the private “polite” world of the landed gentry in Ireland with its multiplicity of familial and societal connections. Cookbooks and Cuisine in Ireland in the 19th Century During the course of the 18th century, there were 136 new cookery book titles and 287 reprints published in Britain (Lehmann, Housewife 383). From the start of the 18th to the end of the 19th century only three cookbooks of Irish, or Anglo-Irish, authorship have been identified. The Lady’s Companion: or Accomplish’d Director In the whole Art of Cookery was published in 1767 by John Mitchell in Skinner-Row, under the pseudonym “Ceres,” while the Countess of Caledon’s Cheap Receipts and Hints on Cookery: Collected for Distribution Amongst the Irish Peasantry was printed in Armagh by J. M. Watters for private circulation in 1847. The modern sounding Dinners at Home, published in London in 1878 under the pseudonym “Short”, appears to be of Irish authorship, a review in The Irish Times describing it as being written by a “Dublin lady”, the inference being that she was known to the reviewer (Farmer). English Copyright Law was extended to Ireland in July 1801 after the Act of Union between Great Britain and Ireland in 1800 (Ferguson). Prior to this, many titles were pirated in Ireland, a cause of confusion alluded to by Lehmann when she comments regarding the Ceres book that it “does not appear to be simply a Dublin-printed edition of an English book” (Housewife 403). This attribution is based on the dedication in the preface: “To The Ladies of Dublin.” From her statement that she had a “great deal of experience in business of this kind”, one may conclude that Ceres had worked as a housekeeper or cook. Cheap Receipts and Hints on Cookery was the second of two books by Catherine Alexander, Countess of Caledon. While many commentators were offering advice to Irish people on how to alleviate their poverty, in Friendly Advice to Irish Mothers on Training their Children, Alexander was unusual in addressing her book specifically to its intended audience (Bourke). In this cookbook, the tone is of a practical didactic nature, the philosophy that of enablement. Given the paucity of printed material, manuscripts provide the main primary source regarding the existence of an indigenous culinary tradition. Attitudes regarding this tradition lie along the spectrum exemplified by the comments of an Irish journalist, Kevin Myers, and an eminent Irish historian, Louis Cullen. Myers describes Irish cuisine as a “travesty” and claims that the cuisine of “Old Ireland, in texture and in flavour, generally resembles the cinders after the suttee of a very large, but not very tasty widow”, Cullen makes the case that Irish cuisine is “one of the most interesting culinary traditions in Europe” (141). It is not proposed to investigate the ideological standpoints behind the various comments on Irish food. Indeed, the use of the term “Irish” in this context is fraught with difficulty and it should be noted that in the three manuscripts proposed here, the cuisine is that of the gentry class and representative of a particular stratum of society more accurately described as belonging to the Anglo-Irish tradition. It is also questionable how the authors of the three manuscripts discussed would have described themselves in terms of nationality. The anxiety surrounding this issue of identity is abating as scholarship has moved from viewing the cultural artifacts and buildings inherited from this class, not as symbols of an alien heritage, but rather as part of the narrative of a complex country (Rees). The antagonistic attitude towards this heritage could be seen as reaching its apogee in the late 1950s when the then Government minister, Kevin Boland, greeted the decision to demolish a row of Georgian houses in Dublin with jubilation, saying that they stood for everything that he despised, and describing the Georgian Society, who had campaigned for their preservation, as “the preserve of the idle rich and belted earls” (Foster 160). Mac Con Iomaire notes that there has been no comprehensive study of the history of Irish food, and the implications this has for opinions held, drawing attention to the lack of recognition that a “parallel Anglo-Irish cuisine existed among the Protestant elite” (43). To this must be added the observation that Myrtle Allen, the doyenne of the Irish culinary world, made when she observed that while we have an Irish identity in food, “we belong to a geographical and culinary group with Wales, England, and Scotland as all counties share their traditions with their next door neighbour” (1983). Three Irish Culinary Manuscripts The three manuscripts discussed here are held in the National Library of Ireland (NLI). The manuscript known as Tervoe has 402 folio pages with a 22-page index. The National Library purchased the manuscript at auction in December 2011. Although unattributed, it is believed to come from Tervoe House in County Limerick (O’Daly). Built in 1776 by Colonel W.T. Monsell (b.1754), the Monsell family lived there until 1951 (see, Fig. 1). The house was demolished in 1953 (Bence-Jones). William Monsell, 1st Lord Emly (1812–94) could be described as the most distinguished of the family. Raised in an atmosphere of devotion to the Union (with Great Britain), loyalty to the Church of Ireland, and adherence to the Tory Party, he converted in 1850 to the Roman Catholic religion, under the influence of Cardinal Newman and the Oxford Movement, changing his political allegiance from Tory to Whig. It is believed that this change took place as a result of the events surrounding the Great Irish Famine of 1845–50 (Potter). The Tervoe manuscript is catalogued as 18th century, and as the house was built in the last quarter of the century, it would be reasonable to surmise that its conception coincided with that period. It is a handsome volume with original green vellum binding, which has been conserved. Fig. 1. Tervoe House, home of the Monsell family. In terms of culinary prowess, the scope of the Tervoe manuscript is extensive. For the purpose of this discussion, one recipe is of particular interest. The recipe, To make a Cullis for Flesh Soups, instructs the reader to take the fat off four pounds of the best beef, roast the beef, pound it to a paste with crusts of bread and the carcasses of partridges or other fowl “that you have by you” (NLI, Tervoe). This mixture should then be moistened with best gravy, and strong broth, and seasoned with pepper, thyme, cloves, and lemon, then sieved for use with the soup. In 1747 Hannah Glasse published The Art of Cookery, Made Plain and Easy. The 1983 facsimile edition explains the term “cullis” as an Anglicisation of the French word coulis, “a preparation for thickening soups and stews” (182). The coulis was one of the essential components of the nouvelle cuisine of the 18th century. This movement sought to separate itself from “the conspicuous consumption of profusion” to one where the impression created was one of refinement and elegance (Lehmann, Housewife 210). Reactions in England to this French culinary innovation were strong, if not strident. Glasse derides French “tricks”, along with French cooks, and the coulis was singled out for particular opprobrium. In reality, Glasse bestrides both sides of the divide by giving the much-hated recipe and commenting on it. She provides another example of this in her recipe for The French Way of Dressing Partridges to which she adds the comment: “this dish I do not recommend; for I think it an odd jumble of thrash, by that time the Cullis, the Essence of Ham, and all other Ingredients are reckoned, the Partridges will come to a fine penny; but such Receipts as this, is what you have in most Books of Cookery yet printed” (53). When Daniel Defoe in The Complete English Tradesman of 1726 criticised French tradesmen for spending so much on the facades of their shops that they were unable to offer their customers a varied stock within, we can see the antipathy spilling over into other creative fields (Craske). As a critical strategy, it is not dissimilar to Glasse when she comments “now compute the expense, and see if this dish cannot be dressed full as well without this expense” at the end of a recipe for the supposedly despised Cullis for all Sorts of Ragoo (53). Food had become part of the defining image of Britain as an aggressively Protestant culture in opposition to Catholic France (Lehmann Politics 75). The author of the Tervoe manuscript makes no comment about the dish other than “A Cullis is a mixture of things, strained off.” This is in marked contrast to the second manuscript (NLI, Limerick). The author of this anonymous manuscript, from which the title of this paper is taken, is considerably perplexed by the term cullis, despite the manuscript dating 1811 (Fig. 2). Of Limerick provenance also, but considerably more modest in binding and scope, the manuscript was added to for twenty years, entries terminating around 1831. The recipe for Beef Stake (sic) Pie is an exact transcription of a recipe in John Simpson’s A Complete System of Cookery, published in 1806, and reads Cut some beef steaks thin, butter a pan (or as Lord Buckingham’s cook, from whom these rects are taken, calls it a soutis pan, ? [sic] (what does he mean, is it a saucepan) [sic] sprinkle the pan with pepper and salt, shallots thyme and parsley, put the beef steaks in and the pan on the fire for a few minutes then put them to cool, when quite cold put them in the fire, scrape all the herbs in over the fire and ornament as you please, it will take an hour and half, when done take the top off and put in some coulis (what is that?) [sic]. Fig. 2. Beef Stake Pie (NLI, Limerick). Courtesy of the National Library of Ireland. Simpson was cook to Lord Buckingham for at least a year in 1796, and may indeed have travelled to Ireland with the Duke who had several connections there. A feature of this manuscript are the number of Cholera remedies that it contains, including the “Rect for the cholera sent by Dr Shanfer from Warsaw to the Brussels Government”. Cholera had reached Germany by 1830, and England by 1831. By March 1832, it had struck Belfast and Dublin, the following month being noted in Cork, in the south of the country. Lasting a year, the epidemic claimed 50,000 lives in Ireland (Fenning). On 29 April 1832, the diarist Amhlaoibh Ó Súilleabháin notes, “we had a meeting today to keep the cholera from Callan. May God help us” (De Bhaldraithe 132). By 18 June, the cholera is “wrecking destruction in Ennis, Limerick and Tullamore” (135) and on 26 November, “Seed being sown. The end of the month wet and windy. The cholera came to Callan at the beginning of the month. Twenty people went down with it and it left the town then” (139). This situation was obviously of great concern and this is registered in the manuscript. Another concern is that highlighted by the recommendation that “this receipt is as good as the bank. It has been obligingly given to Mrs Hawkesworth by the chief book keeper at the Bank of Ireland” (NLI, Limerick). The Bank of Ireland commenced business at St. Mary’s Abbey in Dublin in June 1783, having been established under the protection of the Irish Parliament as a chartered rather then a central bank. As such, it supplied a currency of solidity. The charter establishing the bank, however, contained a prohibitory clause preventing (until 1824 when it was repealed) more then six persons forming themselves into a company to carry on the business of banking. This led to the formation, especially outside Dublin, of many “small private banks whose failure was the cause of immense wretchedness to all classes of the population” (Gilbert 19). The collapse that caused the most distress was that of the Ffrench bank in 1814, founded eleven years previously by the family of Lord Ffrench, one of the leading Catholic peers, based in Connacht in the west of Ireland. The bank issued notes in exchange for Bank of Ireland notes. Loans from Irish banks were in the form of paper money which were essentially printed promises to pay the amount stated and these notes were used in ordinary transactions. So great was the confidence in the Ffrench bank that their notes were held by the public in preference to Bank of Ireland notes, most particularly in Connacht. On 27 June 1814, there was a run on the bank leading to collapse. The devastation spread through society, from business through tenant farmers to the great estates, and notably so in Galway. Lord Ffrench shot himself in despair (Tennison). Williams and Finn, founded in Kilkenny in 1805, entered bankruptcy proceedings in 1816, and the last private bank outside Dublin, Delacours in Mallow, failed in 1835 (Barrow). The issue of bank failure is commented on by writers of the period, notably so in Dickens, Thackery, and Gaskill, and Edgeworth in Ireland. Following on the Ffrench collapse, notes from the Bank of Ireland were accorded increased respect, reflected in the comment in this recipe. The receipt in question is one for making White Currant Wine, with the unusual addition of a slice of bacon suspended from the bunghole when the wine is turned, for the purpose of enriching it. The recipe was provided to “Mrs Hawkesworth by the chief book keeper of the bank” (NLI, Limerick). In 1812, a John Hawkesworth, agent to Lord CastleCoote, was living at Forest Lodge, Mountrath, County Laois (Ennis Chronicle). The Coote family, although settling in County Laois in the seventeenth century, had strong connections with Limerick through a descendent of the younger brother of the first Earl of Mountrath (Landed Estates). The last manuscript for discussion is the manuscript book of Mrs Abraham Whyte Baker of Ballytobin House, County Kilkenny, 1810 (NLI, Baker). Ballytobin, or more correctly Ballaghtobin, is a townland in the barony of Kells, four miles from the previously mentioned Callan. The land was confiscated from the Tobin family during the Cromwellian campaign in Ireland of 1649–52, and was reputedly purchased by a Captain Baker, to establish what became the estate of Ballaghtobin (Fig. 3) To this day, it is a functioning estate, remaining in the family, twice passing down through the female line. In its heyday, there were two acres of walled gardens from which the house would have drawn for its own provisions (Ballaghtobin). Fig. 3. Ballaghtobin 2013. At the time of writing the manuscript, Mrs. Sophia Baker was widowed and living at Ballaghtobin with her son and daughter-in-law, Charity who was “no beauty, but tall, slight” (Herbert 414). On the succession of her husband to the estate, Charity became mistress of Ballaghtobin, leaving Sophia with time on what were her obviously very capable hands (Nevin). Sophia Baker was the daughter of Sir John Blunden of Castle Blunden and Lucinda Cuffe, daughter of the first Baron Desart. Sophia was also first cousin of the diarist Dorothea Herbert, whose mother was Lucinda’s sister, Martha. Sophia Baker and Dorothea Herbert have left for posterity a record of life in the landed gentry class in rural Georgian Ireland, Dorothea describing Mrs. Baker as “full of life and spirits” (Herbert 70). Their close relationship allows the two manuscripts to converse with each other in a unique way. Mrs. Baker’s detailing of the provenance of her recipes goes beyond the norm, so that what she has left us is not just a remarkable work of culinary history but also a palimpsest of her family and social circle. Among the people she references are: “my grandmother”; Dorothea Beresford, half sister to the Earl of Tyrone, who lived in the nearby Curraghmore House; Lady Tyrone; and Aunt Howth, the sister of Dorothea Beresford, married to William St Lawrence, Lord Howth, and described by Johnathan Swift as “his blue eyed nymph” (195). Other attributions include Lady Anne Fitzgerald, wife of Maurice Fitzgerald, 16th knight of Kerry, Sir William Parsons, Major Labilen, and a Mrs. Beaufort (Fig. 4). Fig. 4. Mrs. Beauforts Rect. (NLI, Baker). Courtesy of the National Library of Ireland. That this Mrs. Beaufort was the wife of Daniel Augustus Beaufort, mother of the hydrographer Sir Francis Beaufort, may be deduced from the succeeding recipe supplied by a Mrs. Waller. Mrs. Beaufort’s maiden name was Waller. Fanny Beaufort, the elder sister of Sir Francis, was Richard Edgeworth’s fourth wife and close friend and confidante of his daughter Maria, the novelist. There are also entries for “Miss Herbert” and “Aunt Herbert.” While the Baker manuscript is of interest for the fact that it intersects the worlds of the novelist Maria Edgeworth and the diarist Dorothea Herbert, and for the societal references that it documents, it is also a fine collection of recipes that date back to the mid-18th century. An example of this is a recipe for Sligo pickled salmon that Mrs. Baker, nee Blunden, refers to in an index that she gives to a second volume. Unfortunately this second volume is not known to be extant. This recipe features in a Blunden family manuscript of 1760 as referred to in Anelecta Hibernica (McLysaght). The recipe has also appeared in Cookery and Cures of Old Kilkenny (St. Canices’s 24). Unlike the Tervoe and Limerick manuscripts, Mrs. Baker is unconcerned with recipes for “cullis”. Conclusion The three manuscripts that have been examined here are from the period before the famine of 1845–50, known as An Gorta Mór, translated as “the big hunger”. The famine preceding this, Bliain an Áir (the year of carnage) in 1740–1 was caused by extremely cold and rainy weather that wiped out the harvest (Ó Gráda 15). This earlier famine, almost forgotten today, was more severe than the subsequent one, causing the death of an eight of the population of the island over one and a half years (McBride). These manuscripts are written in living memory of both events. Within the world that they inhabit, it may appear there is little said about hunger or social conditions beyond the walls of their estates. Subjected to closer analysis, however, it is evident that they are loquacious in their own unique way, and make an important contribution to the narrative of cookbooks. Through the three manuscripts discussed here, we find evidence of the culinary hegemony of France and how practitioners in Ireland commented on this in comparatively neutral fashion. An awareness of cholera and bank collapses have been communicated in a singular fashion, while a conversation between diarist and culinary networker has allowed a glimpse into the world of the landed gentry in Ireland during the Georgian period. References Allen, M. “Statement by Myrtle Allen at the opening of Ballymaloe Cookery School.” 14 Nov. 1983. Ballaghtobin. “The Grounds”. nd. 13 Mar. 2013. ‹http://www.ballaghtobin.com/gardens.html›. Barrow, G.L. “Some Dublin Private Banks.” Dublin Historical Record 25.2 (1972): 38–53. Bence-Jones, M. A Guide to Irish Country Houses. London: Constable, 1988. Bourke, A. Ed. Field Day Anthology of Irish Writing Vol V. Cork: Cork UP, 2002. Craske, M. “Design and the Competitive Spirit in Early and Mid 18th Century England”, Journal of Design History 12.3 (1999): 187–216. Cullen, L. The Emergence of Modern Ireland. London: Batsford, 1981. Dawson, Graham. “Trauma, Memory, Politics. The Irish Troubles.” Trauma: Life Stories of Survivors. Ed. Kim Lacy Rogers, Selma Leydesdorff and Graham Dawson. New Jersey: Transaction P, 2004. De Bhaldraithe,T. Ed. Cín Lae Amhlaoibh. Cork: Mercier P, 1979. Ennis Chronicle. 12–23 Feb 1812. 10 Feb. 2013 ‹http://astheywere.blogspot.ie/2012/12/ennis-chronicle-1812-feb-23-feb-12.html› Farmar, A. E-mail correspondence between Farmar and Dr M. Mac Con Iomaire, 26 Jan. 2011. Fenning, H. “The Cholera Epidemic in Ireland 1832–3: Priests, Ministers, Doctors”. Archivium Hibernicum 57 (2003): 77–125. Ferguson, F. “The Industrialisation of Irish Book Production 1790-1900.” The Oxford History of the Irish Book, Vol. IV The Irish Book in English 1800-1891. Ed. J. Murphy. Oxford: Oxford UP, 2011. Foster, R.F. Luck and the Irish: A Brief History of Change from 1970. Oxford: Oxford UP, 2008. Gilbert, James William. The History of Banking in Ireland. London: Longman, Rees, Orme, Brown, Green, and Longman, 1836. Glasse, Hannah. The Art of Cookery Made Plain and Easy by a Lady: Facsimile Edition. Devon: Prospect, 1983. Gold, C. Danish Cookbooks. Seattle: U of Washington P, 2007. Herbert, D. Retrospections of an Outcast or the Life of Dorothea Herbert. London: Gerald Howe, 1929. Higgins, Michael D. “Remarks by President Michael D. Higgins reflecting on the Gorta Mór: the Great famine of Ireland.” Famine Commemoration, Boston, 12 May 2012. 18 Feb. 2013 ‹http://www.president.ie/speeches/ › Landed Estates Database, National University of Galway, Moore Institute for Research, 10 Feb. 2013 ‹http://landedestates.nuigalway.ie/LandedEstates/jsp/family-show.jsp?id=633.› Lehmann, G. The British Housewife: Cookery books, cooking and society in eighteenth-century Britain. Totnes: Prospect, 1993. ---. “Politics in the Kitchen.” 18th Century Life 23.2 (1999): 71–83. Mac Con Iomaire, M. “The Emergence, Development and Influence of French Haute Cuisine on Public Dining in Dublin Restaurants 1900-2000: An Oral History”. Vol. 2. PhD thesis. Dublin Institute of Technology. 2009. 8 Mar. 2013 ‹http://arrow.dit.ie/tourdoc/12›. McBride, Ian. Eighteenth Century Ireland: The Isle of Slaves. Dublin: Gill and Macmillan, 2009. McLysaght, E.A. Anelecta Hibernica 15. Dublin: Irish Manuscripts Commission, 1944. Myers, K. “Dinner is served ... But in Our Culinary Dessert it may be Korean.” The Irish Independent 30 Jun. 2006. Nevin, M. “A County Kilkenny Georgian Household Notebook.” Journal of the Royal Society of Antiquaries of Ireland 109 (1979): 5–18. (NLI) National Library of Ireland. Baker. 19th century manuscript. MS 34,952. ---. Limerick. 19th century manuscript. MS 42,105. ---. Tervoe. 18th century manuscript. MS 42,134. Ó Gráda, C. Famine: A Short History. New Jersey: Princeton UP, 2009. O’Daly, C. E-mail correspondence between Colette O’Daly, Assistant Keeper, Dept. of Manuscripts, National Library of Ireland and Dorothy Cashman. 8 Dec. 2011. Potter, M. William Monsell of Tervoe 1812-1894. Dublin: Irish Academic P, 2009. Rees, Catherine. “Irish Anxiety, Identity and Narrative in the Plays of McDonagh and Jones.” Redefinitions of Irish Identity: A Postnationalist Approach. Eds. Irene Gilsenan Nordin and Carmen Zamorano Llena. Bern: Peter Lang, 2010. St. Canice’s. Cookery and Cures of Old Kilkenny. Kilkenny: Boethius P, 1983. Swift, J. The Works of the Rev Dr J Swift Vol. XIX Dublin: Faulkner, 1772. 8 Feb. 2013. ‹http://www.google.ie/search?tbm=bks&hl=en&q=works+of+jonathan+swift+Vol+XIX+&btnG=› Tennison, C.M. “The Old Dublin Bankers.” Journal of the Cork Historical and Archeological Society 1.2 (1895): 36–9.