Paper by Patrick Verwijmeren wins 2018 Best Paper Award in Investments at FMA Annual Meeting
The paper ‘Is Gender in the Eye of the Beholder? Identifying Cultural Attitudes With Art Auction Prices’ by Patrick Verwijmeren, Professor of Corporate Finance at Erasmus School of Economics and ERIM Member, is the winner of the 2018 Best Paper Award in the investments category at the FMA Annual Meeting. The award committee noted that they received a near-record number of high quality submissions this year.
After a study of almost 2 million art auction sales in 45 countries between 1970 and 2016, Patrick Verwijmeren and his co-authors (Renee B. Adams, Roman Kräussl and Marco A. Navone), revealed that works by women artists attract prices that are nearly 42% lower than those for works by men, on average. Even when auction results for “stars” like Picasso were removed there was still a large discount, the researchers found. According to the authors the results disclose the struggle and cultural bias facing female artists in getting recognition and true compensation for their work.
For more information about the research of Patrick Verwijmeren you can look at this ESE-newsitem.
Download the entire paper ‘Is Gender in the Eye of the Beholder? Identifying Cultural Attitudes With Art Auction Prices’.