Pet Overpopulation: An Economic Analysis
AbstractThe market for pets in the U.S. is important economically and socially. Pets differ from standard economic goods in significant ways, and the market displays a number of interesting problems, most notably pet overpopulation. Despite this, the market has been ignored by economists. This paper develops a dynamic model of the market for pets and uses it to study the problem of pet overpopulation. The positive predictions of the model square well with key features of the markets for dogs and cats in the U.S. The model is used to understand, from a welfare economic perspective, the sense in which there is overpopulation of pets and the underlying causes of the problem. The paper also employs the model to consider what policies might be implemented to deal with the problem. A calibrated example is developed to illustrate these corrective policies and quantify the potential welfare gains.
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Bibliographic InfoArticle provided by De Gruyter in its journal The B.E. Journal of Economic Analysis & Policy.
Volume (Year): 10 (2010)
Issue (Month): 1 (December)
Contact details of provider:
Web page: http://www.degruyter.com
Other versions of this item:
- Coate, Stephen & Knight, Brian, 2009. "Pet Overpopulation: An Economic Analysis," Working Papers 09-10, Cornell University, Center for Analytic Economics.
- Stephen Coate & Brian Knight, 2009. "Pet Overpopulation: An Economic Analysis," Working Papers 2009-7, Brown University, Department of Economics.
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
- Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
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