Establishing Indices of Genetic Merit Using Hedonic Pricing: An Application to Dairy Bulls in Alberta

Richards, Timothy J.; Jeffrey, Scott R.

doi:10.1111/j.1744-7976.1996.tb00149.x

Cited by 16 publications

(20 citation statements)

References 19 publications

(13 reference statements)

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“…The value of a range bull is determined by the characteristics of the bull and its genetic production (Richards and Jeffrey 1996). A hedonic model captures this relationship as it suggests that the demand for a product (in this case a bull) is a function of its attributes (Lancaster 1966;Griliches 1968;Rosen 1974).…”

Section: Theory and Development Of A Hedonic Pricing Model For Range mentioning

confidence: 99%

Estimating the Implicit Prices of Beef Cattle Attributes: A Case from Alberta

Walburger

2002

Canadian J Agri Economics

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Pressures on beef producers to provide lean beef of consistent quality have been mounting in recent years. Yet this requires beef breeders to alter and broaden cattle improvement objectives to include carcass merit traits. They need information on heritability and the values associated with genetic traits in order to effectively do this. This study estimates the implicit prices in east‐central Alberta, Canada, for bull attributes using a hedonic pricing model. The results indicate that the most important bull attributes to buyers (breeders) in this region are sale weight, birth weight and scrotal circumference. Also important are ribeye area and average daily gain. Selection of these attributes conforms with expectations because they are moderately to highly heritable and are associated with improved fertility and reproduction, reduced production costs and higher returns. In addition, the results suggest that breeders have been changing selection emphasis away from reproduction traits and toward carcass traits associated with improved production efficiency and consumer demand. Depuis quelques années, les producteurs subissent des pressions grandissantes pour fournir du bœuf maigre de qualité uniforme. Ces pressions contraignent les éleveurs à modifier et àélargir leurs objectifs d'hybridation en y incluant les caractères génétiques qui codent les paramètres de la carcasse. Pour y arriver, les éleveurs ont besoin de renseignements sur l'héritabilité et la valeur des caractères en question. Dans cet article, le prix implicite des attributs des taureaux dans le centre‐est de l'Alberta est estimé selon un modèle hédoniste. Les attributs les plus importants pour les acheteurs (éleveurs) de la région sont le poids à la vente, le poids à la mise bas et la circonférence du scrotum. Comptent aussi pour beaucoup la surface du faux‐filet et le gain quotidien moyen. La sélection de tels attributs est conforme aux prévisions, car il s'agit de caractères très héréditaires qu'on relie à une fertilité accrue et de meilleures aptitudes à la reproduction, done à une réduction des coûts d'élevage et à un rendement plus élevé. Par ailleurs, les résultats de l'analyse laissent croire que les éleveurs ont réorienté leurs programmes de sélection, laissant de côté les aptitudes à la reproduction pour les paramètres de la carcasse associés à un meilleure productivité et à la demande des consommateurs.

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Section: Theory and Development Of A Hedonic Pricing Model For Range mentioning

confidence: 99%

Estimating the Implicit Prices of Beef Cattle Attributes: A Case from Alberta

Walburger

2002

Canadian J Agri Economics

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“…Dairy bull traits were evaluated by Richards and Jeffrey (1996) and Schroeder et al (1992). Implicit values of swine boar attributes were estimated by Walburger and Foster (1994).…”

Section: Introductionmentioning

confidence: 99%

A hedonic price analysis of thoroughbred broodmare characteristics

Neibergs

2001

Agribusiness

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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.

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“…60 % of EU cattle is derived from a single Breed, the Holstein-Friesian one. And, in accordance to the ''winner-takes-all'' effects apparent in the pricing of the best bulls, ''50 % of the 5000 HosteinFriesian bulls born in 1990, and evaluated by the Interbull Centre, (...) were bred by only five 55 See Schroeder et al (1992), and Richards and Jeffrey (1996), who find a significant effect of performance scores in milk and protein on the price of semen doses. 56 According to these authors, ''(...)some bulls brought considerably higher price than the sum of the marginal predicted values of their quality differences(contributing to nonnormal residuals).…”

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confidence: 95%

Economic aspects of human cloning and reprogenetics

Saint‐Paul

2003

Economic Policy

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While most discussions of human cloning start and end with ethics, this paper analyses the economics of human cloning. I analyse the incentives for cloning and its implications for the long-run distribution of skills and income. I discuss models of human cloning for different motives, focusing on those that tend to produce new human beings with improved ability. I distinguish three cases: cloning as a means of assisted reproduction for infertile couples, cloning by fertile couples aimed at producing high ability offspring and, finally, financially motivated cloning. The third case supposes that the creator of a clone can appropriate some fraction of the clone's future income. Even if this fraction is small, the possibility of producing exceptionally talented clones with correspondingly high incomes might make it profitable, and thus turn cloning into a form of financial investment. An important consequence of these models is that to the extent that ability is genetically determined and cloners prefer to make high-ability clones, cloning will act as a form of what might be called 'unnatural selection'. Following standard Darwinian logic, such selection will tend to increase the proportion of high ability people in society. Indeed, under some assumptions the distribution of ability eventually converges to a mass point at the highest possible ability level. Under weaker assumptions, it is shown that ability-reducing genes are eventually eliminated. These results do not depend on cloning displacing sexual reproduction or even being widespread; they hold even if a small, or even negligible number of top ability workers are cloned at a small (but not negligible) number of copies. The paper discusses the plausibility of the models and their results in light on the evidence on marriage markets, child selection, human assisted reproduction and animal husbandry. Finally, it is shown how the analysis can be used to help formulate policies toward cloning, whether they aim at preventing it or managing its external effects. Copyright (c) CEPR, CES, MSH, 2003..

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Establishing Indices of Genetic Merit Using Hedonic Pricing: An Application to Dairy Bulls in Alberta

Cited by 16 publications

References 19 publications

Estimating the Implicit Prices of Beef Cattle Attributes: A Case from Alberta

Estimating the Implicit Prices of Beef Cattle Attributes: A Case from Alberta

A hedonic price analysis of thoroughbred broodmare characteristics

Economic aspects of human cloning and reprogenetics

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