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Barriers to Entry in the Market for Stud Services: Government and "Non-profit" Institutions in Collusion

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  • Coelho, Philip R P
  • McClure, James E

Abstract

Modern technologies are banned in the breeding of Thoroughbred horses. These practices have been banned by the states defining a Thoroughbred as a horse registered by the Jocky Club of New York, and by the Club refusing to register horses bred "unnaturally." Modern technologies would vastly increase the n umber of high quality foals and lead to a decline in industry prices and profits. The breeding restrictions protect the wealth of owners a t the expense of consumers, potential input suppliers, and new breede rs. Because of the distribution of costs and benefits in the politica l process, the authors foresee no end to legislatively mandated stagnation. Copyright 1987 by Oxford University Press.

Suggested Citation

  • Coelho, Philip R P & McClure, James E, 1987. "Barriers to Entry in the Market for Stud Services: Government and "Non-profit" Institutions in Collusion," Economic Inquiry, Western Economic Association International, vol. 25(4), pages 659-670, October.
    • Handle: RePEc:oup:ecinqu:v:25:y:1987:i:4:p:659-70
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    Cited by:

    1. Losey, Robert & Lambert, Thomas, 2020. "Pricing Stallion Seasons for an Individual Stallion: The Existence of Top Tier Pricing and Market Power," MPRA Paper 99700, University Library of Munich, Germany.
    2. Lambert, Thoomas, 2020. "Kentucky and the Thoroughbred Industries: Prospects and Challenges as Gambling Popularity Declines," MPRA Paper 105077, University Library of Munich, Germany.

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