ADJUGÉ, VENDU...ASSURÉ

Carole Botton and Julien Fouquau
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Carole Botton: Pôle Finance Responsable - Rouen Business School - Rouen Business School

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Abstract: Registered for their market value, horses are insured for an amount of risk that doesn't exactly reveal their fair value. Indeed, empirical evidence has revealed difficulties in the assessment of a singular product, whose criteria are surrounded by fuzziness for investors. Ambiguous and unmeasurable, these criteria raise the question of fairness, relevance and predictability of assessment models. This paper examines the shaping of valuation models on racehorses' auctions. We provide a qualitative and quantitative approach which allows for understanding the valuation process for different kind of investors (experts or non professional) and their impact for insurers.

Keywords: assessment criteria; auctions; fair value; risk; "one of a kind" product; critères d'évaluation; enchères; juste valeur; risque; bien singulier (search for similar items in EconPapers)
Date: 2012-05-21
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Published in Comptabilités et innovation, May 2012, Grenoble, France. pp.cd-rom

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00937902

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