The Economics of Renaissance Art

Federico Etro ()

Working Papers - Economics from Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa

Abstract: I analyze the market of paintings in Florence and Italy (1285-1550). Hedonic regressions on real prices allow me to advance evidence that the market was competitive and that an important determinant of artistic innovation was driven by economic incentives. Price differentials reflected quality differentials between painters as perceived at the time (whose proxy is the length of the biography of Vasari) and did not depend on regional destinations, as expected under monopolistic competition with free entry. An inverse-U relation between prices and age of execution is consistent with reputational theories of artistic effort, and prices increased since the 1420s

Pages: 34 pages
Date: 2018
New Economics Papers: this item is included in nep-cul and nep-his
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Citations: View citations in EconPapers (15)

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Related works:
Journal Article: The Economics of Renaissance Art (2018)
Working Paper: The Economics of Renaissance Art (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:frz:wpaper:wp2018_19.rdf

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