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The Labor Market in the Art Sector of Baroque Rome

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Author Info

  • Federico Etro

    ()
    (University of Venice, Ca� Foscari, Italy)

  • Silvia Marchesi

    ()
    (University of Milan, Bicocca, Italy)

  • Laura Pagani

    ()
    (University of Milan, Bicocca, Italy)

Abstract

We analyze the labor market for painters in Baroque Rome using unique panel data on primary sales of portraits, still lifes, genre paintings, landscapes and figurative paintings. In line with the traditional artistic hierarchy of genres, average price differentials between them were high. The matched painter-patron nature of the dataset allows us to evaluate the extent to which price heterogeneity is related to unobservable characteristics of painters and patrons. We find that the market allocated artists between artistic genres to the point of equalizing the marginal return of each genre. We explain residual price differences at the employer level in terms of incentive mechanisms to induce effort in the production of artistic quality and compensating wage differentials.

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Bibliographic Info

Paper provided by the Association for Cultural Economics International in its series ACEI Working Paper Series with number AWP-03-2013.

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Length: 47 pages
Date of creation: Sep 2013
Date of revision: Sep 2013
Handle: RePEc:cue:wpaper:awp-03-2013

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Web page: http://www.culturaleconomics.org/
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Related research

Keywords: Inter-industry wage differentials; Matched employer-employee data; Occupational choice; Art market;

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References

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  1. Daniel A. Ackerberg & Maristella Botticini, 2002. "Endogenous Matching and the Empirical Determinants of Contract Form," Journal of Political Economy, University of Chicago Press, vol. 110(3), pages 564-591, June.
  2. Max Gruetter & Rafael Lalive, . "The Importance of Firms in Wage Determination," IEW - Working Papers 207, Institute for Empirical Research in Economics - University of Zurich.
  3. Kathryn Graddy & Orley Ashenfelter, 2002. "Auctions and the Price of Art," Economics Series Working Papers 131, University of Oxford, Department of Economics.
  4. Goux, Dominique & Maurin, Eric, 1999. "Persistence of Interindustry Wage Differentials: A Reexamination Using Matched Worker-Firm Panel Data," Journal of Labor Economics, University of Chicago Press, vol. 17(3), pages 492-533, July.
  5. Jan Eeckhout & Philipp Kircher, 2011. "Identifying Sorting--In Theory," Review of Economic Studies, Oxford University Press, vol. 78(3), pages 872-906.
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  7. Federico Etro & Laura Pagani, 2012. "The Market for Paintings in Italy during the Seventeenth Century," Working Papers 217, University of Milano-Bicocca, Department of Economics, revised Jan 2012.
  8. Woodcock, Simon, 2006. "Wage Differentials in the Presence of Unobserved Worker, Firm, and Match Heterogeneity," MPRA Paper 1341, University Library of Munich, Germany.
  9. Federico Etro & Laura Pagani, 2012. "The Market for Paintings in the Venetian Republic from Renaissance to Rococò," Working Papers 2012_10, Department of Economics, University of Venice "Ca' Foscari".
  10. Federico Etro & Elena Stepanova, 2013. "The Market for Paintings in the Netherlands during the Seventeenth Century," Working Papers 2013:16, Department of Economics, University of Venice "Ca' Foscari".
  11. Shapiro, Carl & Stiglitz, Joseph E, 1984. "Equilibrium Unemployment as a Worker Discipline Device," American Economic Review, American Economic Association, vol. 74(3), pages 433-44, June.
  12. Teulings, Coen N, 1995. "The Wage Distribution in a Model of the Assignment of Skills to Jobs," Journal of Political Economy, University of Chicago Press, vol. 103(2), pages 280-315, April.
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Cited by:
  1. Cellini, Roberto & Cuccia, Tiziana, 2014. "The artist–art dealer relationship as a marketing channel," Research in Economics, Elsevier, vol. 68(1), pages 57-69.

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