Premium
Using Censored Data to Estimate Implicit Values of Swine Breeding Stock Attributes
Author(s) -
Walburger Allan,
Foster Kenneth
Publication year - 1994
Publication title -
applied economic perspectives and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.4
H-Index - 49
eISSN - 2040-5804
pISSN - 2040-5790
DOI - 10.2307/1349468
Subject(s) - stock (firearms) , econometrics , statistics , economics , mathematics , geography , archaeology
Production of more desirable products and production efficiency are primary concerns in the swine industry. Genetic improvement provides an avenue for producers to address these concerns. This article examines the value of genetic improvements in breeding animals (boars) via a hedonic pricing model. The approach uses data from a test station auction to estimate the implicit prices for back fat, loineye area, average daily gain, and feed efficiency. All of these variables significantly impact the auction prices of boars. Separate models were estimated on data collected before and after 1990. Results suggest that large adjustments occurred in all of the implicit prices between the two time periods.