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Hedonic Price Analysis Of Non-Barren Broodmares

Author

Listed:
  • Bree L. DORITY

    (Department of Economics, University of Nebraska-Kearney, 1917 W 24th St, Kearney, NE 68849, USA)

  • DAYNA LARREAU

    (Department of Economics, University of Nebraska-Kearney, 1917 W 24th St, Kearney, NE 68849, USA)

  • Frank TENKORANG

    (Department of Economics, University of Nebraska-Kearney, 1917 W 24th St, Kearney, NE 68849, USA)

Abstract

The current real average selling price of a thoroughbred broodmare is nearly half its peak value in 2000. While annual price changes are influenced by economic performance, different prices at an auction are influenced by physical and genetic characteristics of broodmares. We use auction data from the 2013 November Keeneland Breeding Stock Sales to estimate a hedonic pricing model. We find prices are positively influenced by earnings of the covering sire, earnings of the broodmare, pedigree, and the racing performance of broodmare progeny. Conversely, the age of a broodmare and the day on which the horse sold have dampening effects on broodmare prices.

Suggested Citation

  • Bree L. DORITY & DAYNA LARREAU & Frank TENKORANG, 2016. "Hedonic Price Analysis Of Non-Barren Broodmares," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 18, pages 61-75, December.
    • Handle: RePEc:aic:revebs:y:2016:j:18:tenkorangf
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    References listed on IDEAS

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    More about this item

    Keywords

    broodmare; hedonic pricing; thoroughbred;
    All these keywords.

    JEL classification:

    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness

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