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

Federico Etro (), Silvia Marchesi () and Elena Stepanova

LEM Papers Series from Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy

Abstract: We analyze the Paris art market between the government-controlled Salon as a centralized organization of art exhibition and the system liberalized by the Republican government based on competition between independent exhibitions. The jury of the old Salon decided on submissions with a bias toward conservative art of the academic insiders, reducing demand for the outsiders, as confirmed by the impact on prices of the acceptance of Impressionists. With a difference-in difference estimation we provide evidence that the end of the government-controlled Salon in 1880 started the increase of the prices of the Impressionists relative to the insiders.

Keywords: Art market; Market structure; Insider-Outsider; Hedonic regressions; Impressionism (search for similar items in EconPapers)
Date: 2018-08-05
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Related works:
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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