Scarcity Trade-Off Mindset of Entrepreneurs in the Field of Emerging Contemporary Arts Markets

Description

Based on the introduction chapter, which I have attached and the writer 124725 wrote, the literature review should be made on how gallery owners open their galleries and how scarcity trade-off mindset affect their decision making.

Particularly how gallery owners make key decisions when opening galleries and which challenges they face, while working under pressure of limited resources and time. My focus is the contemporary art galleries in the elite area of Mayfair where the costs of setting up business are high (such as monthly rent).

The books which might be of a particular help are Management of Art Galleries by Magus Resch, Art Business Today: 20 Key Topics by Jos Hackforth-Jones and Iain Robertson, Big Bucks: The Explosion of the Art Market in the 21st Century by Georgina Adam, Selling Contemporary Art: How to Navigate the Evolving Market by Edward Winkleman. I am also going to attach two articles, which you must read. It is about why galleries often fail and strategy on how to open the contemporary art gallery.