Determinants of Slave Prices: Louisiana, 1725 to 1820

Ashley Coleman and William Hutchinson ()
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Ashley Coleman: Wachovia Bank, Charlotte, NC
William Hutchinson: Department of Economics, Vanderbilt University

No 624, Vanderbilt University Department of Economics Working Papers from Vanderbilt University Department of Economics

Abstract: We utilize a previously untapped data source, Gwendolyn Hall (1999), to examine the market for slaves in Louisiana, both in New Orleans and outside of New Orleans. We are able to study the process of price determination in two separate markets over a period of 95 years for the former and 64 years for the latter. While our findings indicate that both markets valued slave characteristics in a manner that one would expect, we also analyze why particular attributes were valued differently in these two markets. Two shocks to these markets occur in 1808: the Jefferson embargo (December, 1807) and the prohibition of slave imports (January 1, 1808). We analyze how these two shocks differentially affect the value of slave characteristics in these two markets. We find that after the embargo is lifted in 1814, differences in the valuation of slave characteristics between the two regions are greatly diminished.

Keywords: Slavery; factor prices; market integration (search for similar items in EconPapers)
JEL-codes: F16 N31 N91 (search for similar items in EconPapers)
Date: 2006-12
New Economics Papers: this item is included in nep-his
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:van:wpaper:0624

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