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Liberalizing Art: Evidence on the Impressionists at the end of the Paris Salon

Federico Etro (federico.etro@unifi.it), Silvia Marchesi and Elena Stepanova

No 432, Working Papers from University of Milano-Bicocca, Department of Economics

Abstract: We analyze the art market in Paris between the government-controlled Salon and the post-1880 system, when the Republican government liberalized art exhibitions. The jury of the old Salon decided on submissions with a bias in favor of conservative art of the academic insiders, erecting entry barriers against outsiders as the Impressionists. With a difference-in difference estimation, we provide evidence that the end of the government-controlled Salon contributed to start the price increase of the Impressionists relative to the insiders.

Keywords: Art market; Liberalization; Market structure; Insider-Outsider; Hedonic regressions; Impressionism. (search for similar items in EconPapers)
JEL-codes: C23 Z11 (search for similar items in EconPapers)
Pages: 36
Date: 2020-02, Revised 2020-02
New Economics Papers: this item is included in nep-cul
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Citations: View citations in EconPapers (10)

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Related works:
Journal Article: Liberalizing art. Evidence on the Impressionists at the end of the Paris Salon (2020) Downloads
Working Paper: Liberalizing Art. Evidence on the Impressionists at the end of the Paris Salon (2019) Downloads
Working Paper: Liberalizing Art: Evidence on the Impressionists at the end of the Paris Salon (2019) Downloads
Working Paper: Liberalizing Art Evidence on the Impressionists at the end of the Paris Salon (2018) Downloads
Working Paper: Liberalizing Art. Evidence on the Impressionists at the end of the Paris Salon (2018) Downloads
Working Paper: Liberalizing Art. Evidence on the Impressionists at the end of the Paris Salon (2018) Downloads
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