Prices and Markets in Ancient Rome
22 Pages Posted: 8 Apr 2016 Last revised: 18 Apr 2016
Date Written: April 4, 2016
This paper argues that there was enough buying and selling (emptio venditio) in the early Roman Empire to show that there were markets, and there were enough markets at the time that there was a market economy. I use three examples to make these points, one from my research, one from the research of a younger ancient historian, and one from an older ancient historian. These examples also show the usefulness of a few economic techniques like regression analysis, comparative advantage, and assuming that farmers respond to market prices.
Keywords: ancient markets, regressions, Roman markets, comparative advantage
JEL Classification: B41, N13, P52, C29
Suggested Citation: Suggested Citation