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

• DOI: 10.1016/j.ejpoleco.2020.101857
• Publication Date: 2020-02-01T07:03:55Z
• Authors: Federico Etro; Silvia Marchesi; Elena Stepanova
• Keywords: Impressionism; Hedonic regressions; ddc:330; 05 social sciences; Cultural Economics: Economics of the Arts and Literature; Art market; Liberalization; Impressionism; Single Variables: Models with Panel Data; Art market; Liberalization; Market structure; Insider-outsider; Hedonic regressions; Impressionism; Insider-Outsider; Z11; Models with Panel Data [Single Equation Models; Single Variables]; Art market; 0502 economics and business; Economie; Market structure; Single Equation Models; Economics of the Arts and Literature [Cultural Economics]; C23

Abstract We analyze the art market in Paris between the government-controlled Salon and the post-1880 system, when the Republican government liberalized art exhibitions. The jury of the old Salon decided on submissions with a bias in favor of 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 price increase of the Impressionists relative to the insiders.