More proof of the irrationality of the art market and how artwork is priced. Rem... | Hacker News

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		elyase on Oct 14, 2013 \| parent \| context \| favorite \| on: Banksy Art Sale in Central Park [video] More proof of the irrationality of the art market and how artwork is priced. Reminds me of [1]. [1] http://blog.priceonomics.com/post/53857118493/is-wine-bullsh...

dbond on Oct 14, 2013 [–]

Its called positional good.

http://en.wikipedia.org/wiki/Positional_good

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