The Market for Paintings in Italy during the Seventeenth Century

Federico Etro () and Laura Pagani

No 217, Working Papers from University of Milano-Bicocca, Department of Economics

Abstract: We study the Seventeenth century market for figurative paintings in Italy analyzing original contracts between patrons and artists. We show that a number of supply and demand factors affected prices. We find a positive and concave relation between prices and size of paintings reflecting economies of scale. We show evidence of a positive relationship between prices and the number of figures depicted. Trade in paintings was sufficient to equalize prices between different destinations. Finally, we provide support for the Galenson hypothesis of a positive relation between age of experimental artists and quality as priced by the market.

Pages: 34 pages
Date: 2012-01, Revised 2012-01
New Economics Papers: this item is included in nep-cul and nep-his
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Citations: View citations in EconPapers (40)

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Journal Article: The Market for Paintings in Italy During the Seventeenth Century (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:mib:wpaper:217

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