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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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    Cited by:

    1. Claire Dupin Beyssat & Diana Seave Greenwald & Kim Oosterlinck, 2023. "Measuring nepotism and sexism in artistic recognition: the awarding of medals at the Paris Salon, 1850–1880," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 47(3), pages 407-436, September.
    2. Aloys Leo Prinz, 2022. "The concentration of power in the market for contemporary art: an empirical analysis of ArtReview’s “Power 100”," SN Business & Economics, Springer, vol. 2(1), pages 1-32, January.
    3. Etro, Federico & Stepanova, Elena, 2021. "Art return rates from old master paintings to contemporary art," Journal of Economic Behavior & Organization, Elsevier, vol. 181(C), pages 94-116.
    4. Edward Oczkowski, 2021. "The catalogue raisonné and art auction prices: the case of Berthe Morisot," Empirical Economics, Springer, vol. 61(3), pages 1669-1687, September.
    5. Liesbeth Strooper & Erwin Dekker, 2024. "Why the Impressionists did not create Impressionism," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 48(2), pages 171-198, June.
    6. Anne-Sophie V. Radermecker & Koenraad Brosens, 2023. "Valuing European tapestry: from riches to rags," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 47(3), pages 359-406, September.
    7. Ennio E. Piano & Tanner Hardy, 2022. "Rent seeking and the decline of the Florentine school," Public Choice, Springer, vol. 192(1), pages 59-78, July.
    8. Etro, Federico, 2024. "Art and Markets in the Greco-Roman World," The Journal of Economic History, Cambridge University Press, vol. 84(2), pages 432-478, June.
    9. Geraldine David & Christian Huemer & Kim Oosterlinck, 2023. "Art dealers’ inventory strategy: the case of Goupil, Boussod & Valadon from 1860 to 1914," Business History, Taylor & Francis Journals, vol. 65(1), pages 24-55, January.
    10. Anne-Sophie Radermecker & Koenraad Brosens, 2023. "Valuing European tapestry: from riches to rags," ULB Institutional Repository 2013/371370, ULB -- Universite Libre de Bruxelles.

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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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