Hedonic Price Analysis of Thoroughbred Broodmares in Foal
Thoroughbred broodmares are the foundation of a successful racing operation. This study estimated the impact of breeding, racing, and market characteristics on broodmare auction prices. Data represent 604 in-foal broodmares sold in Keenelandâ€™s 2005 sale. Prices were highly responsive to the sireâ€™s stud fee, the broodmareâ€™s age, and progeny performance in graded stakes races, with pronounced day-of-sale effects. The stud fee marginal value was substantially lower than one break-even estimate, suggesting possible disincentives for investment in stallion services. Out-of-sample forecasts were far superior to naÃ¯ve forecasts but were not accurate enough to use in isolation from other decision aids.
Volume (Year): 25 (2007)
Issue (Month): 2 ()
|Contact details of provider:|| Postal: 301 Conner Hall, University of Georgia, Athens, GA 30602-7509|
Web page: http://www.agecon.uga.edu/~jab/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Neibergs, J. Shannon & Thalheimer, Richard, 1997. "Price Expectations and Supply Response in the Thoroughbred Yearling Market," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 29(02), pages 419-435, December.
- Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
- Steven Buccola & Yoko Iizuka, 1997. "Hedonic Cost Models and the Pricing of Milk Components," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(2), pages 452-462.
- Taylor, Mykel R. & Dhuyvetter, Kevin C. & Kastens, Terry L. & Douthit, Megan & Marsh, Thomas L., 2004. "Price Determinants Of Show Quality Quarter Horses," 2004 Annual Meeting, June 30-July 2, 2004, Honolulu, Hawaii 36199, Western Agricultural Economics Association.
- Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
- Kristofersson, Dadi & Rickertsen, Kyrre, 2003.
"Efficient Estimation Of Hedonic Inverse Input Demand Systems,"
2003 Annual meeting, July 27-30, Montreal, Canada
21926, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Dadi Kristofersson & Kyrre Rickertsen, 2004. "Efficient Estimation of Hedonic Inverse Input Demand Systems," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(4), pages 1127-1137.
- Neibergs, J. Shannon & Thalheimer, Richard, 1997. "Price Expectations And Supply Response In The Thoroughbred Yearling Market," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 29(02), December.
- Mark Robbins & Peter Kennedy, 2001. "Buyer behaviour in a regional thoroughbred yearling market," Applied Economics, Taylor & Francis Journals, vol. 33(8), pages 969-977.
- Ted C. Schroeder & John M. Jones & David A. Nichols, 1989.
"Analysis of Feeder Pig Auction Price Differentials,"
Review of Agricultural Economics,
Agricultural and Applied Economics Association, vol. 11(2), pages 253-263.
- Schroeder, Ted C. & Jones, John M. & Nichols, David A., 1989. "Analysis of Feeder Pig Auction Price Differentials," Staff Papers 133738, Kansas State University, Department of Agricultural Economics.
When requesting a correction, please mention this item's handle: RePEc:ags:jloagb:62295. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.