Liberalizing art. Evidence on the Impressionists at the end of the Paris Salon

Federico Etro (), Silvia Marchesi and Elena Stepanova

European Journal of Political Economy, 2020, vol. 62, issue C

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)
Date: 2020
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Citations: View citations in EconPapers (11)

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Related works:
Working Paper: Liberalizing Art: Evidence on the Impressionists at the end of the Paris Salon (2020)
Working Paper: Liberalizing Art. Evidence on the Impressionists at the end of the Paris Salon (2019)
Working Paper: Liberalizing Art: Evidence on the Impressionists at the end of the Paris Salon (2019)
Working Paper: Liberalizing Art Evidence on the Impressionists at the end of the Paris Salon (2018)
Working Paper: Liberalizing Art. Evidence on the Impressionists at the end of the Paris Salon (2018)
Working Paper: Liberalizing Art. Evidence on the Impressionists at the end of the Paris Salon (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:poleco:v:62:y:2020:i:c:s0176268020300057

DOI: 10.1016/j.ejpoleco.2020.101857

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