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Animal House: Economics of Pets and the Household

Author

Listed:
  • Schwarz Peter M

    (UNC Charlotte)

  • Troyer Jennifer L

    (UNC Charlotte)

  • Walker Jennifer Beck

    (Bank of America)

Abstract

We develop a model of the household that includes pets. We use over twenty years of data from the Consumer Expenditure Survey to consider pet ownership and expenditures for single and married households. Households with very young children are less likely to own pets and have lower pet expenditures, showing a substitute relationship. Households with older children are more likely to own pets, suggesting a complementary relationship. However, households with more children show reduced pet spending, evidence of a substitute relationship. Surprisingly, when the effect of income on pet ownership and pet spending are jointly considered in computing the income elasticities, women in married households have smaller income elasticities for pet expenditures than do men. This finding is the opposite of what has been found for women and men with regard to expenditures on children.

Suggested Citation

  • Schwarz Peter M & Troyer Jennifer L & Walker Jennifer Beck, 2007. "Animal House: Economics of Pets and the Household," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 7(1), pages 1-27, July.
    • Handle: RePEc:bpj:bejeap:v:7:y:2007:i:1:n:35
    DOI: 10.2202/1935-1682.1679
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    Citations

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    Cited by:

    1. Coate Stephen & Knight Brian, 2010. "Pet Overpopulation: An Economic Analysis," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-59, December.
    2. Samuel Cameron, 2011. "Overview of the Economics of Leisure," Chapters, in: Samuel Cameron (ed.), Handbook on the Economics of Leisure, chapter 1, Edward Elgar Publishing.
    3. Samuel Cameron & Mark Fox, 2011. "Half Full or Half Empty: The Economics of Work–Life Balance," Chapters, in: Samuel Cameron (ed.), Handbook on the Economics of Leisure, chapter 6, Edward Elgar Publishing.
    4. Gromek Natalia & Perek-Białas Jolanta, 2022. "Pet Goods Consumption in Polish Households," Econometrics. Advances in Applied Data Analysis, Sciendo, vol. 26(3), pages 1-20, September.
    5. Hobbs, Lonnie & Shanoyan, Aleksan & Hovhannisyan, Vardges & Aldrich, Greg, 2023. "Assessment of Pet Food Demand Structure: Implications for Agribusiness Management and Marketing Strategies," 2023 Annual Meeting, July 23-25, Washington D.C. 335994, Agricultural and Applied Economics Association.
    6. Zhenguo Lin & Marcus Allen & Charles Carter, 2013. "Pet Policy and Housing Prices: Evidence from the Condominium Market," The Journal of Real Estate Finance and Economics, Springer, vol. 47(1), pages 109-122, July.
    7. Grossbard, Shoshana, 2010. "Independent Individual Decision-Makers in Household Models and the New Home Economics," IZA Discussion Papers 5138, Institute of Labor Economics (IZA).
    8. N. Gromek & J. Perek-Białas, 2022. "Why is pet goods consumption imperceptible for economists? A scoping review," SN Business & Economics, Springer, vol. 2(11), pages 1-25, November.

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