📢 iCEBDA Econometric seminar

Join us on June 29, 2026 at 12:00 noon (Moscow time, online via Zoom) for a research seminar by

🎓 A. Levchenko & M. Stepanov — HSE University

Talk: "Does the Visual Similarity of New and Already Known Works of Art Affect the Pricing of New Ones?"

Traditional hedonic models treat visual content as a "black box." This study takes a relational approach: how does an artwork's visual similarity to previously sold works affect its auction price? Using data on ~54,000 artworks sold at Christie's and Phillips (2009–2025), the authors extract SigLIP embeddings and low-level visual features to construct novel similarity measures. Combining machine learning with hedonic pricing, they find that visual similarity carries economic significance beyond traditional factors — the market rewards originality within recognizable styles, not mere visual typicality.

🔗 Register here: https://economics.hse.ru/bigdata/seminars