A Hedonic Price Analysis of Differentiated Products of Unknown Quality: Freshman Sire Stud Fees in the Thoroughbred Breeding Industry

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dc.creatorStowe, C. Jill
dc.creatorAjello, Billy
dc.date2017-04-01T16:25:08Z
dc.date.accessioned2026-07-09T06:23:51Z
dc.descriptionPrices transmit information regarding the underlying quality of a product; when quality is unknown to both buyers and sellers, theory predicts that the same price should be charged for all products. However, in the Thoroughbred industry, difference fees are charged to breed to freshman sires, which are stallions of unknown quality standing their first season at stud. We find that stallion owners/ managers differentiate their products according to attributes which may predict offspring quality. A freshman sire’s own racetrack performance, standing in the state of Kentucky, and descending from a prominent sire line are found to be statistically and economically significant.
dc.identifierdoi:10.22004/ag.econ.131185
dc.identifierhttps://ageconsearch.umn.edu/record/131185/files/JAB_Spr2010__02.pdf
dc.identifierhttp://ageconsearch.umn.edu/record/131185
dc.identifier.urihttp://hdl.handle.net/123456789/576052
dc.languageeng
dc.publisher
dc.sourcehttp://ageconsearch.umn.edu/record/131185
dc.titleA Hedonic Price Analysis of Differentiated Products of Unknown Quality: Freshman Sire Stud Fees in the Thoroughbred Breeding Industry
dc.typeText

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