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.

中文翻译：

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性别价格

我们提供的证据表明文化是价格偏见的根源。在49个国家/地区进行的190万笔拍卖交易中，女性艺术家的画作无条件折价出售42.1％。性别折扣随着国家/地区性别不平等程度的提高而增加，即使在艺术家固定效应回归中也是如此。我们的研究结果足以说明艺术特征及其流动性方面的潜在性别差异。来自两个实验的证据支持这样的论点，即女性艺术品的售价可能较低，因为它是女性创作的。但是，随着性别平等的增加，性别折扣随着时间的流逝而减少。