Hedonic Price Analysis of Thoroughbred Broodmares in Foal

Thoroughbred broodmares are the foundation of a successful racing operation. This study estimated the impact of breeding, racing, genetic, and market characteristics on broodmare auction prices. Data represent 298 broodmares in foal that were sold in Keeneland's 2005 sale. Prices were most responsive to the sire's stud fee and the broodmare's age, with pronounced day-of-sale effects. Overall valuation structure appeared similar to Neibergs' results using 1996 data. Out-of-sample forecasts were far superior to naive forecasts, but were not accurate enough to use in isolation from other decision aids such as visual inspection of the horse.


Issue Date:
2006
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/31983
Total Pages:
27
Series Statement:
Agricultural Economics Staff Paper No. 460




 Record created 2017-04-01, last modified 2017-11-08

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)