A hedonic price analysis of thoroughbred broodmare characteristics

Abstract

Abstract Thoroughbred broodmares are the primary input in the foal production process. Breeders need to make informed broodmare investment decisions, since substantial financial and genetic risks are associated with overvaluing a broodmare's productive capacity. Each broodmare represents a unique combination of breeding, racing, and genetic characteristics. This study estimates the marginal values of broodmare characteristics. Results identify large price differentials for broodmares that have won or produced graded stakes race winners. The analysis provides information for marketing, accounting and management decisions. [EconLit Citation: Q130]. © 2001 John Wiley & Sons, Inc.