Gendered Prices

Renée B. Adams; Roman Kräussl; Marco Navone; Patrick Verwijmeren

doi:10.1093/rfs/hhab046

Gendered Prices

Renée B. Adams^*, Roman Kräussl, Marco Navone, Patrick Verwijmeren

^*Corresponding author for this work

Business Economics

Research output: Contribution to journal › Article › Academic › peer-review

8 Citations (Scopus)

Abstract

We provide evidence that culture is a source of pricing bias. In a sample of 1.9 million auction transactions in 49 countries, paintings by female artists sell at an unconditional discount of 42.1%. The gender discount increases with measures of country-level gender inequality - even in artist fixed effects regressions. Our results are robust to accounting for potential gender differences in art characteristics and their liquidity. Evidence from two experiments supports the argument that women's art may sell for less because it is made by women. However, the gender discount reduces over time as gender equality increases.

Original language	English
Pages (from-to)	3789-3839
Number of pages	51
Journal	The Review of Financial Studies
Volume	34
Issue number	8
DOIs	https://doi.org/10.1093/rfs/hhab046
Publication status	Published - 1 Aug 2021

Bibliographical note

JEL Classification: D44 - AuctionsJ16 - Economics of Gender; Non-labor DiscriminationZ11 - Economics of the Arts and Literature

Publisher Copyright:
© 2021 The Author(s) 2021. Published by Oxford University Press on behalf of The Society for Financial Studies. All rights reserved.

Publisher Copyright:
© 2021 The Author(s) 2021. Published by Oxford University Press on behalf of The Society for Financial Studies. All rights reserved.

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title = "Gendered Prices",

abstract = "We provide evidence that culture is a source of pricing bias. In a sample of 1.9 million auction transactions in 49 countries, paintings by female artists sell at an unconditional discount of 42.1%. The gender discount increases with measures of country-level gender inequality - even in artist fixed effects regressions. Our results are robust to accounting for potential gender differences in art characteristics and their liquidity. Evidence from two experiments supports the argument that women's art may sell for less because it is made by women. However, the gender discount reduces over time as gender equality increases. ",

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N2 - We provide evidence that culture is a source of pricing bias. In a sample of 1.9 million auction transactions in 49 countries, paintings by female artists sell at an unconditional discount of 42.1%. The gender discount increases with measures of country-level gender inequality - even in artist fixed effects regressions. Our results are robust to accounting for potential gender differences in art characteristics and their liquidity. Evidence from two experiments supports the argument that women's art may sell for less because it is made by women. However, the gender discount reduces over time as gender equality increases.

AB - We provide evidence that culture is a source of pricing bias. In a sample of 1.9 million auction transactions in 49 countries, paintings by female artists sell at an unconditional discount of 42.1%. The gender discount increases with measures of country-level gender inequality - even in artist fixed effects regressions. Our results are robust to accounting for potential gender differences in art characteristics and their liquidity. Evidence from two experiments supports the argument that women's art may sell for less because it is made by women. However, the gender discount reduces over time as gender equality increases.

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Gendered Prices

Abstract

Bibliographical note

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