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hedonic pricing, dairy industry, valuation

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Subject-Keyword: hedonic pricing dairy industry valuation

Type of item: Report

Language: English

Place: Canada, Alberta


Description: This study investigates the use of hedonic pricing to identify the value of relevant production and type traits for dairy bulls in Alberta. A hedonic pricing model is estimated that models semen price as a function of individual production and longevity characteristics for a sample of Holstein bulls. This model corrects for sources of statistical bias in the data i.e., censored data and endogenous supply problems. The results suggest that the most important characteristics in valuing dairy bulls are milk volume, protein and fat content, general conformation, body capacity, the popularity of the bull, and the probability that the bull-s semen may be in short supply. This methodology may be used to establish a method of forecasting semen prices for newly proven bulls. The valuation procedure may be easily updated and adjusted as producers- breeding objectives change over time due to the changing economic environment. Further extensions of this method may be done to incorporate other characteristics and-or assess shifts in producer breeding objectives over time. The results of this analysis suggest that hedonic pricing may be a superior method of placing a value on production and type characteristics for dairy bulls than the Lifetime Profit Index, currently being used by the Canadian dairy industry.

Date created: 1995

DOI: doi:10.7939-R33X83P48

License information: Creative Commons Attribution-Non-Commercial-No Derivatives 3.0 Unported


Autor: Richards, Timothy J. Jeffrey, Scott

Fuente: https://era.library.ualberta.ca/


RURAL ECONOMY Hedonic Pricing of Dairy Bulls - An Alternative Index of Genetic Merit Timothy J.
Richards and Scott R.
Jeffrey Project Report 95-04 Alberta Agricultural Research Institute Project 94M658 PROJECT REPORT Department of Rural Economy Faculty of Agriculture, Forestry, And Home Economics University of Alberta Edmonton, Canada Hedonic Pricing of Dairy Bulls - An Alternative Index of Genetic Merit Timothy J.
Richards1 and Scott R.
Jeffrey2 Project Report 95-04 Final Report for Alberta Agricultural Research Institute Project No.
94M658 September, 1995 1 Assistant Professor, Center for Agribusiness Policy Studies, Arizona State University.
Tempe, Arizona. 2 Project Leader and Associate Professor, Department of Rural Economy, University of Alberta.
Edmonton, Alberta. TABLE OF CONTENTS Introduction .
1 The Lifetime Profit Index 3 Hedonic Pricing Models .
5 A Hedonic Pricing Model for Evaluating Genetic Merit of Dairy Bulls 8 Empirical Hedonic Pricing Model 11 Data .
11 Empirical Model Specification .
13 Results and Discussion of the Semen Pricing Problem .
18 Estimation Results 18 Implications and Extensions ...

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