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.
|Date of creation:||Jan 2012|
|Date of revision:||Jan 2012|
|Contact details of provider:|| Postal: Piazza Ateneo Nuovo, 1 Milano 20126|
Phone: +39 02 6448 3089
Fax: +39 02 6448 3085
Web page: http://dems.unimib.it
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- David Galenson, 2009. "Old masters and young geniuses: The two life cycles of human creativity," Journal of Applied Economics, Universidad del CEMA, vol. 12, pages 1-9, May.
- Hellmanzik, Christiane, 2010. "Location matters: Estimating cluster premiums for prominent modern artists," European Economic Review, Elsevier, vol. 54(2), pages 199-218, February.
- David W. Galenson & Bruce A. Weinberg, 2000.
"Age and the Quality of Work: The Case of Modern American Painters,"
Journal of Political Economy,
University of Chicago Press, vol. 108(4), pages 761-777, August.
- David W. Galenson & Bruce A. Weinberg, 1999. "Age and the Quality of Work: The Case of Modern American Painters," NBER Working Papers 7122, National Bureau of Economic Research, Inc.
- David Galenson, 2002. "The Life Cycles of Modern Artists," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 3(3), pages 161-178, July.
- David W. Galenson, 2002. "The Life Cycles of Modern Artists," NBER Working Papers 8779, National Bureau of Economic Research, Inc.
- Kevin H. O'Rourke & Jeffrey G. Williamson, 2001. "Globalization and History: The Evolution of a Nineteenth-Century Atlantic Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650592, January. Full references (including those not matched with items on IDEAS)