A System Dynamics Model of the American Collectable Comic Book Market

The American collectable comic book is an unconventional investment of growing importance and cultural significance. Here the price history of the comic book is analysed into three markets, that of the new, the collectors' market, and the investors'. System dynamics is employed to model these markets, and different dynamic hypotheses are employed to distinguish between them in structural, as well as historical, terms. The model is tested against real-world data, and used to identify factors other than supply and demand that are important determinants of goods value. Conclusions are drawn with respect to the more general market for collectables.