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Journal of Agribusiness >
Volume 25, Number 2, Fall 2007 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/62295
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| Title: | Hedonic Price Analysis of Thoroughbred Broodmares in Foal |
| Authors: | Maynard, Leigh J.
Stoeppel, Kelly M. |
| Keywords: | broodmare
forecasting
hedonic price analysis
Thoroughbred |
| Issue Date: | 2007 |
| Abstract: | 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
Keeneland’s 2005 sale. Prices were highly responsive to the sire’s stud fee, the
broodmare’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 naïve
forecasts but were not accurate enough to use in isolation from other decision aids. |
| URI: | http://purl.umn.edu/62295 |
| Identifiers: | 0738-8950 |
| Institution/Association: | Journal of Agribusiness>Volume 25, Number 2, Fall 2007 |
| Total Pages: | 15 |
| From Page: | 181 |
| To Page: | 195 |
| Collections: | Volume 25, Number 2, Fall 2007
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| JAB,Fall07,#05,pp181-195.pdf | | 125Kb | PDF | View/Open |
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