How Determinants of Thoroughbred Stud Fees Change Over Time: A Hedonic Price Approach

Charlotte R. Hansen, C. Stowe and Sayed Saghaian

Journal of Agribusiness, 2018, vol. 36, issue 01

Abstract: By the time a Thoroughbred stallion produces four crops of foals, the success of his entire breeding career is largely determined. One hundred and sixty-three Thoroughbred sires beginning their breeding careers between 2002 and 2005 are tracked for five consecutive years. Adopting a hedonic pricing method, we observe how determinants of stud fees change as new information about the sire’s quality becomes available. Results show that initially, a sire’s own racetrack performance is influential in predicting stud fees; eventually, this information becomes irrelevant as information about progeny performance (both on the racetrack and in the auction ring) is learned.

Keywords: Agribusiness; Agribusiness (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jloagb:302476

DOI: 10.22004/ag.econ.302476

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