The Market for Paintings in the Venetian Republic from Renaissance to Rococ�

Federico Etro () and Laura Pagani

No 2012_10, Working Papers from Department of Economics, University of Venice "Ca' Foscari"

Abstract: We study the art market in the Venetian Republic from 1550 to 1750 analyzing the determinants of the prices (adjusted for the cost of living measured by the cost of wheat) of figurative paintings. Reputation of the painters, size of the paintings and other quantifiable factors affect prices as expected. Other relevant factors include the placement of the paintings (on the altar, on the ceiling or on the walls), whose impact reflects differences in demand elasticities. We find evidence evidence of the law of one price confirming price equalization between high and low demand destinations and between different subjects. Finally we relate the temporal trend of the price of a representative painting with waves of artistic innovations, whose picks were in the Mannerist and Rococ� periods with a dark Baroque age in the intermediate period.

Keywords: Economic theory of Art history; hedonic model; Law of one price (search for similar items in EconPapers)
JEL-codes: D4 N0 Z11 (search for similar items in EconPapers)
Pages: 25
Date: 2012
New Economics Papers: this item is included in nep-cul and nep-his
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.unive.it/web/fileadmin/user_upload/dip ... tro_pagani_10_12.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ven:wpaper:2012_10

Access Statistics for this paper

More papers in Working Papers from Department of Economics, University of Venice "Ca' Foscari" Contact information at EDIRC.
Bibliographic data for series maintained by Sassano Sonia ().