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Liberalizing Art. Evidence on the Impressionists at the end of the Paris Salon

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  • Federico Etro
  • Silvia Marchesi
  • Elena Stepanova

Abstract

We analyze the art market in Paris between the government-controlled Salon as a centralized organization for art exhibition and the post-1880 system when the Republican government liberalized art exhibitions. The jury of the old Salon decided on submissions with a bias toward conservative art of the academic insiders, erecting entry barriers against outsiders as the Impressionists. With a difference-in difference estimation, we provide evidence that the end of the government-controlled Salon contributed to start the increase of the prices of the Impressionists relative to the insiders.

Suggested Citation

  • Federico Etro & Silvia Marchesi & Elena Stepanova, 2019. "Liberalizing Art. Evidence on the Impressionists at the end of the Paris Salon," Working Papers - Economics wp2019_22.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
  • Handle: RePEc:frz:wpaper:wp2019_22.rdf
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    More about this item

    Keywords

    Liberalization; Market structure; Insider-Outsider; Hedonic regressions; Impressionism; Art market;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature

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