Hedonic pricing and the role of stud fees in the market for thoroughbred yearlings in Australia

Jun Sung Kim, Sophie Deborah Mitchell and Liang Wang

Australian Journal of Agricultural and Resource Economics, 2019, vol. 63, issue 3, 439-471

Abstract: Using data from one of Australia's largest thoroughbred auction houses, we investigate the price determinants of thoroughbred yearlings sold at auction. We include novel key variables to construct hedonic pricing models and examine the relative role of stud fees compared to the wide range of attributes in the pricing of yearlings. We find that the price effect of stud fees is influenced by the value buyers place on both the characteristics of sires and the characteristics of sire side siblings. The findings imply that the quality of dams a sire has been matched within the breeding market has consequential effects on yearling prices through the sire's stud fee and progeny.

Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/1467-8489.12316

Related works:
Journal Article: Hedonic pricing and the role of stud fees in the market for thoroughbred yearlings in Australia (2019)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:ajarec:v:63:y:2019:i:3:p:439-471

Ordering information: This journal article can be ordered from
http://ordering.onli ... 1111/(ISSN)1467-8489

Access Statistics for this article

Australian Journal of Agricultural and Resource Economics is currently edited by John Rolfe, Lin Crase and John Tisdell

More articles in Australian Journal of Agricultural and Resource Economics from Australian Agricultural and Resource Economics Society Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().