{"id":648,"date":"2021-01-04T07:14:17","date_gmt":"2021-01-04T07:14:17","guid":{"rendered":"https:\/\/website.prod.unilu.spikeseed.cloud\/fdef-en\/news\/prof-roman-kraussl-explores-gender-and-pricing-bias-in-the-art-market\/"},"modified":"2021-01-04T07:14:17","modified_gmt":"2021-01-04T07:14:17","slug":"prof-roman-kraussl-explores-gender-and-pricing-bias-in-the-art-market","status":"publish","type":"news","link":"https:\/\/www.uni.lu\/fdef-en\/news\/prof-roman-kraussl-explores-gender-and-pricing-bias-in-the-art-market\/","title":{"rendered":"Prof. Roman Kr\u00e4ussl explores gender and pricing bias in the art market"},"content":{"rendered":"<section class=\"wp-block-unilux-blocks-free-section section\"><div class=\"container xl:max-w-screen-xl\"><p>Department of Finance professor within the Faculty of Law, Economics and Finance and Alternative Investments specialist, Roman Kr\u00e4ussl, has co-authored the paper \u201cGendered Prices\u201d accepted for publication in the top journal <i>The Review of Financial Studies<\/i> in 2021. This review, published by Oxford University Press, is one of the 50 journals used by the Financial Times in compiling the FT Research rank.<\/p><p>With co-authors Ren\u00e9e Adams (University of Oxford, ABFER, ECGI, FIRN), Marco Navone (University of Technology Sydney, FIRN) and Patrick Verwijmeren (Erasmus School of Economics and University of Melbourne), <a href=\"https:\/\/wwwen.uni.lu\/recherche\/fdef\/df\/people\/roman_kraeussl\" target=\"_self\" title=\"\" rel=\"noopener\">Prof. Kr\u00e4uss<\/a>l provides evidence that culture, specifically gender culture, is a source of pricing bias. Using a sample of 1.9 million auction transactions from 1970 to 2016 in 49 countries for 69,189 individual artists, the researchers document that auction prices for paintings by female artists are significantly lower than prices for paintings by male artists. They also found that the gender discount in auction prices is generally higher in countries with greater gender inequality.<\/p><p>Two experiments conducted by Prof. Kr\u00e4ussl\u2019s team suggest that women\u2019s art may sell for less at auction simply because it is made by women. In Experiment #1, the researchers asked participants how much they liked the painting on a scale of 0-10 after guessing the gender of the artist, allowing a measure of whether the perceived gender might affect a person\u2019s appreciation of the work. In Experiment #2, researchers randomly associated fake male and female artists\u2019 names with images of paintings and asked participants how much they liked the painting.\u00a0<\/p><p>Prof. Kr\u00e4ussl and his coauthors found that in both experiments, works that are associated with females (either through the guess of the participant or the fictitious name of the artist), command a lower rate of appreciation from affluent males who visit art galleries. As this is the typical profile of an auction bidder, they concluded that the experiment results are consistent with the hypothesis that the gender of the artist influences the price of the work at auction.<\/p><p>The findings were presented at numerous major academic conferences and generated substantial media attention, including from <i>The Economist<\/i> and <i>The Financial Times<\/i>, among others.<\/p><\/div><\/section>","protected":false},"excerpt":{"rendered":"<p>Department of Finance professor within the Faculty of Law, Economics and Finance and Alternative Investments specialist, Roman Kr\u00e4ussl, has co-authored the paper \u201cGendered Prices\u201d accepted for publication in the top journal The Review of Financial Studies in 2021. This review, published by Oxford University Press, is one of the 50 journals used by the Financial Times in compiling the FT Research rank.<\/p>\n","protected":false},"author":0,"featured_media":649,"template":"","format":"standard","meta":{"featured_image_focal_point":[],"show_featured_caption":false,"ulux_newsletter_groups":"","uluxPostTitle":"","uluxPrePostTitle":"","_trash_the_other_posts":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false},"news-category":[4],"news-topic":[14],"organisation":[116,101],"authorship":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Prof. Roman Kr\u00e4ussl explores gender and pricing bias in the art market - FDEF news I University of Luxembourg<\/title>\n<meta name=\"description\" content=\"Department of Finance professor within the Faculty of Law, Economics and Finance and Alternative Investments specialist, Roman Kr\u00e4ussl, has co-authored the paper \u201cGendered Prices\u201d accepted for publication in the top journal The Review of Financial Studies in 2021. 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