Gendered Prices

Renee Adams, Roman Kräussl, Marco Navone and Patrick Verwijmeren

Published Paper Series from Finance Discipline Group, UTS Business School, University of Technology, Sydney

Abstract: We provide evidence that culture is a source of pricing bias. In a sample of 1.9 million auction transactions in 49 countries, paintings by female artists sell at an unconditional discount of 42.1%. The gender discount increases with measures of country-level gender inequality—even in artist fixed effects regressions. Our results are robust to accounting for potential gender differences in art characteristics and their liquidity. Evidence from two experiments supports the argument that women’s art may sell for less because it is made by women. However, the gender discount reduces over time as gender equality increases.

JEL-codes: D44 J16 Z11 (search for similar items in EconPapers)
Pages: 41 pages
Date: 2021-01-01
New Economics Papers: this item is included in nep-cul and nep-gen
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Published in: Adams, R. B., Kräussl, R., Navone, M. and Verwijmeren, P., 2021, "Gendered prices", The Review of Financial Studies, 34(8), 3789-3839.

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Journal Article: Gendered Prices (2021)
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