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Breeding incentive programmes and demand for California thoroughbred racing: is there a quality/quantity tradeoff?

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  • Martin Smith

Abstract

Both quantity of horses and quality stimulate demand for horse race gambling. This paper addresses the potential for a quantity/quality tradeoff due to breeding incentives for California thoroughbreds. Econometric analysis is used to assess the demand for quality and quantity of horses, and results suggest the likely net benefit of breeding incentives on the industry at large.

Suggested Citation

  • Martin Smith, 2001. "Breeding incentive programmes and demand for California thoroughbred racing: is there a quality/quantity tradeoff?," Applied Economics, Taylor & Francis Journals, vol. 33(14), pages 1755-1762.
    • Handle: RePEc:taf:applec:v:33:y:2001:i:14:p:1755-1762
    DOI: 10.1080/00036840010019675
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    References listed on IDEAS

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    1. Mukhtar Ali & Richard Thalheimer, 1997. "Transportation costs and product demand: wagering on parimutuel horse racing," Applied Economics, Taylor & Francis Journals, vol. 29(4), pages 529-542.
    2. Gruen, Arthur, 1976. "An Inquiry into the Economics of Race-Track Gambling," Journal of Political Economy, University of Chicago Press, vol. 84(1), pages 169-177, February.
    3. Carter, Harold O. & Shepard, Lawrence E. & Whitney, Marilyn, 1991. "An Economic Analysis of the California Thoroughbred Racing Industry," Research Reports 251935, University of California, Davis, Giannini Foundation.
    4. Ali, Mukhtar M, 1977. "Probability and Utility Estimates for Racetrack Bettors," Journal of Political Economy, University of Chicago Press, vol. 85(4), pages 803-815, August.
    5. Joseph Golec & Maurry Tamarkin, 1998. "Bettors Love Skewness, Not Risk, at the Horse Track," Journal of Political Economy, University of Chicago Press, vol. 106(1), pages 205-225, February.
    6. Ali, Mukhtar M, 1979. "Some Evidence of the Efficiency of a Speculative Market," Econometrica, Econometric Society, vol. 47(2), pages 387-392, March.
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    Cited by:

    1. Paresh Kumar Narayan & Russell Smyth, 2004. "The Race that Stops a Nation: The Demand for the Melbourne Cup," The Economic Record, The Economic Society of Australia, vol. 80(249), pages 193-207, June.

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