We analyze two reasons for export prices to be different across markets - namely, quality differentiation and variable markups - and attempt to parse their relative importance and some of their underlying drivers. To overcome the substantial measurement issues in this task, we consider a...

We analyze two reasons for export prices to be different across markets namely, quality differentiation and variable markups and attempt to parse their relative importance and underlying drivers. To overcome identification issue, we consider a particular industry: Chinese fine art, given its...