The Labor Market in the Art Sector of Baroque Rome
AbstractWe 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 InfoPaper provided by the Association for Cultural Economics International in its series ACEI Working Paper Series with number AWP-03-2013.
Length: 47 pages
Date of creation: Sep 2013
Date of revision: Sep 2013
Inter-industry wage differentials; Matched employer-employee data; Occupational choice; Art market;
Find related papers by JEL classification:
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
- J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
- Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-09-26 (All new papers)
- NEP-CUL-2013-09-26 (Cultural Economics)
- NEP-EUR-2013-09-26 (Microeconomic European Issues)
- NEP-HIS-2013-09-26 (Business, Economic & Financial History)
- NEP-HRM-2013-09-26 (Human Capital & Human Resource Management)
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