The Economics of Renaissance Art

• 成果类型: Article
• 署名作者: Universita Ca Foscari Venezia
• 刊物名称: JOURNAL OF ECONOMIC HISTORY
• ISSN/ISSBN: 0022-0507
• DOI: 10.1017/S0022050718000244
• 发表日期: 2018
• 页码: 500-538
• 关键词: monopolistic competition; MARKET; paintings; reputation; companies; industry; guilds; IMPACT; entry

摘要

I analyzed the market of paintings in Florence and Italy (1285-1550). Hedonic regressions on real prices allowed me to advance evidence that the market was competitive and that an important determinant of artistic innovation was driven by economic incentives. Price differentials reflected quality differentials between painters as perceived at the time (whose proxy is the length of the biography of Vasari) and did not depend on regional destinations, as expected under monopolistic competition with free entry. An inverse-U relation between prices and age of execution is consistent with reputational theories of artistic effort, and prices increased since the 1420s.