The Market for Paintings in Italy During the Seventeenth Century
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.
Year of publication: |
2012
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Authors: | ETRO, FEDERICO ; PAGANI, LAURA |
Published in: |
The Journal of Economic History. - Cambridge University Press, ISSN 1471-6372. - Vol. 72.2012, 02, p. 423-447
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Publisher: |
Cambridge University Press |
Description of contents: | Abstract [journals.cambridge.org] |
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