Etro, Federico; Stepanova, Elena - Dipartimento di Economia, Università Ca' Foscari Venezia - 2015
endogenous entry: higher probability should attract more entry of painters, which in turn should lead to artistic innovations and … attracted entry of innovators, and econometric evidence on the causal relation between price movements and entry of painters …. The time series analysis supports the idea for which increasing prices attracted entry of innovative painters. …