Age and the Quality of Work: The Case of Modern American Painters
Psychologists have found that the age at which successful practitioners typically do their best work varies across professions, but they have not considered whether these peak ages change over time, as economic models suggest they might. Using auction records, we estimate the relationship between artists' ages and the value of their paintings for two successive cohorts of modern American painters. We find that a substantial decline occurred over time in the age at which these artists produced their most valuable - and most important - work, and argue that this was caused by a shift in the nature of the demand for modern art during the 1950s.
|Date of creation:||May 1999|
|Publication status:||published as Galenson, David W. and Bruce A. Weinberg. "Age And The Quality Of Work: The Case Of Modern American Painters," Journal of Political Economy, 2000, v108(4,Aug), 761-777.|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
Web page: http://www.nber.org
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- Ashenfelter, Orley, 1989. "How Auctions Work for Wine and Art," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 23-36, Summer.
- Bartel, Ann P & Sicherman, Nachum, 1993. "Technological Change and Retirement Decisions of Older Workers," Journal of Labor Economics, University of Chicago Press, vol. 11(1), pages 162-183, January.
- Yoram Ben-Porath, 1967. "The Production of Human Capital and the Life Cycle of Earnings," Journal of Political Economy, University of Chicago Press, vol. 75, pages 352-352.
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