Editor’s introduction 3
readers and provide a rich selection from which individuals can pick and choose, given their own interests and needs. Although much of the cutting-edge work on risk management and decision-making under uncertainty is highly technical, because this is ultimately a book about the art world, the non-quantitative reader will still find much that is accessible and useful. All the contributions presented here aim to provide an intuitive and understandable introduction to key concepts and ideas. Although some of the chapters are based on advanced techniques and theory, the reader should not be daunted by the occasional appearance of mathematical formulas; they should be read in the context of a wider story! The art world does indeed present a remarkable story of change and growth. Profound socio-economic and cultural developments internationally have fuelled the art world’s transformation in modern times. From the dramatic fall of the Berlin Wall in 1989 to the revolutionary protests of the Arab Spring in 2010, region after region has witnessed a remarkable opening-up of its borders and a re-assessment of its values and beliefs. If the great sociologist Emile Durkheim was right, it is precisely such periods of revolt and upheaval that provide the perfect conditions for artists to do their greatest work and for art to prosper. As the shackles of a dominant system are overthrown, experimentation and a search for alternatives can begin. The extraordinary transformation witnessed in the art world is undoubtedly linked to changes in global society. Over the past three decades shifts in the balance of power – socio-economic and cultural – have given rise to the much discussed ‘Asian Tigers’1 and then the ‘BRIC’ countries.2 The growing importance of natural resources has seen attention shift to the oil-rich countries of Southwest Asia and the Middle East3 and the less-noted but increasingly prosperous postSoviet Central Asian countries or ‘-stans’.4 Together, they provide ample alternatives to a view of art and culture dominated by Anglo-Saxon, Eurocentric or Western perspectives and practices. Importantly, developments in these regions have created significant new opportunities for trade, cultural exchange and innovation. We certainly live in interesting times!
9781472902900 Risk and Uncertainty in the Art World (927h) final pass.indd 3
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