The value of genetic information to livestock buyers: a combined revealed,stated preference approach |
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| Authors: | Mallory K Vestal Jayson L Lusk Eric A DeVuyst J Robert Kropp |
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| Institution: | 1. Department of Agricultural Business & Economics, West Texas A&M University, 114J Agriculture & Natural Sciences Building, , Canyon, Texas 79016, USA;2. Department of Agricultural Economics, Oklahoma State University, , Stillwater, Oklahoma 74078, USA;3. Department of Animal Science, Oklahoma State University, 212C Animal Science, , Stillwater, Oklahoma 74078, USA |
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| Abstract: | DNA profile information has begun appearing in purebred bull auction catalogs; however, the value of this information is as of yet unknown. This study uses data from actual bull sales at a test station and combines it with stated‐preference survey data to determine the value of the DNA profile information. Consistent with previous research, we find that expected progeny differences (EPDs), test performance, and ultrasound information significantly influence bull‐buyers’ willingness‐to‐pay. The newer DNA profile information, however, was unrelated to buyers’ preferences. Methodologically, we find statistically significant differences (but highly correlated willingness‐to‐pay values) across the stated and revealed preference data sources. |
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| Keywords: | Q13 Q16 Beef Cattle Bull Genetics Revealed preference Stated preference Willingness‐to‐pay Hedonic model |
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