C. Jill Stowe's research while affiliated with University of Kentucky and other places
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Publications (27)
Equine life and health insurance policies provide coverage for veterinary expenses or the loss of use (or life) of a horse, making horse health care accessible to more owners. Utilizing a best-worst scaling choice experiment targeted to horse owners, the rate of insurance adoption is explored, along with factors influencing insurance decisions and...
This review addresses the question of whether Thoroughbred horse racing is sustainable in the context of current social values. A recently acknowledged framework, known as ‘Social License to Operate’ (SLO), provides us with a lens through which to view and assess racehorse welfare. In multiple surveys of the general public, the horse owning public,...
Yearling auctions constitute the most common means of trading prospective Thoroughbred racehorses. The main objective of many equine operations is to breed yearlings to sell at these auctions, and therefore, the ability of breeders to consistently realize positive returns is paramount to their long-term participation in the market. In this article,...
According to the Bureau of Land Management (BLM), there are about 60,000 more wild horses and burros roaming the rangelands in the western United States than the land can sustain. While the BLM is pursuing a number of strategies to address this imbalance, placing wild horses and burros in private homes is one of the most preferred options. However,...
This study estimates the non-market value of horse farms of Central Kentucky’s equine economic cluster using a contingent valuation approach. Utilizing a payment card, respondents are asked to indicate how much they would be willing to pay in additional taxes for a hypothetical “horse farm preservation program.” Results from the study showed that,...
In the traditional Becker model of employer discrimination, discriminatory behavior arises from a utility-maximizing owner who balances firm profits against the disutility of hiring workers from the disadvantaged demographic group. However, in the modern firm, many human resource decisions are made by agents of the owner (managers) whose actions ma...
The market for racehorses is volatile and inefficient, and the ability to identify and exploit undervalued characteristics which predict performance can be profitable. In this article, we evaluate whether quantitative measures of physical structure and movement can help predict racing success and whether these measures are appropriately valued by t...
Determinants of prices of 1,302 weanling Thoroughbreds sold at the 2010 Keeneland November Breeding Stock Sale are investigated. A hedonic pricing model is adopted to identify price determinants, and the corresponding marginal values of those determinants are estimated. Prices were responsive to pedigree quality variables, including the sire's stud...
A farm-level stochastic model was used to estimate costs of 7 common clinical diseases in the United States: mastitis, lameness, metritis, retained placenta, left-displaced abomasum, ketosis, and hypocalcemia. The total disease costs were divided into 7 categories: veterinary and treatment, producer labor, milk loss, discarded milk, culling cost, e...
Parascaris spp. infections can lead to life-threatening small intestinal impactions in foals. Currently available diagnostic techniques cannot estimate the magnitude of an ascarid burden, and hence identify foals potentially at risk of developing impactions.
To describe and evaluate an ultrasonographic transabdominal scoring technique for monitorin...
This article utilizes data from the complete set of U.S. thoroughbred 2-year-old in-training sales held in 2013 and estimates the determinants of prices for 1806 two-year-old thoroughbreds. The results reveal that the time in which these prospective racehorses run a standardized distance is the most statistically significant determinant of market p...
Little is formally known about the U.S. equine industry. Little is also known about Kentucky's equine industry, even though state bills itself as the 'Horse Capital of the World,' with the last comprehensive study being conducted in 1977. However, having reliable data is crucial to the success and sustainability of the industry. The 2012 Kentucky E...
The unwanted horse issue continues to be a major concern in the U.S. equine industry. Nonprofit organizations dedicated to rescuing, retraining, and rehoming unwanted horses are critical in minimizing this problem. This study utilized data collected nationwide from organizations that provide these services for thoroughbreds retired from racing to i...
Reasons for performing studyTraditionally, equine parasite control has relied heavily on frequent routine anthelmintic treatments applied with regular intervals year-round. However, current recommendations aim at employing a more surveillance-based approach. It remains unknown to which extent these recommendations are being implemented on US horse...
In this article, we examine disclosure as a tool to mitigate the effects of asymmetric information in a Thoroughbred yearling market. If disclosures influence market price, information contained therein must be valuable to buyers and hence diminish asymmetric information. Using public auction data, we find that disclosures do not influence price in...
This article utilizes panel data on leading Thoroughbred sires from 1999 until 2008 and estimates the determinants of their stud fees, or the price paid for the rights to one breeding season, and the marginal value of those characteristics. Using a Fixed Effects (FE) estimation procedure, we find strong evidence of ‘breeding to sell’: stud fees for...
Thoroughbred mares treated for signs of placentitis are potentially costly to farms and owners. Although these treatments often are effective, the resulting foal may require expensive aftercare. The current study aimed to investigate the future racing performance of foals from mares treated for clinical and subclinical signs of placentitis with mat...
In the traditional Becker model of employer discrimination, discriminatory behavior arises from a utility-maximizing owner who balances firm profits against the disutility of hiring workers from the disadvantaged demographic group. However, in the modern firm, many human resource decisions are made by agents of the owner (i.e., managers) whose acti...
In rank-order tournaments, undesirable but output-enhancing activities, such as cheating, may occur. Cheating may be especially tempting when one player has an advantage over another. We show that when audit probabilities are low (high), the leading (trailing) player has more incentive to cheat. Furthermore, we show that ‘‘correlated’’ audits are m...
Paper was previously titled "The Informativeness of Prices as Quality Signals in the Thoroughbred Industry"
This paper incorporates morale into a standard principal-agent model. When morale is observable, the worker’s effort level,
the optimal piece rate, and the firm’s expected profits are all generally increasing in the worker’s level of morale. Furthermore,
under reasonable conditions, higher-morale individuals are more responsive to incentives. Final...
Imperfect monitoring of actions in rank-order tournaments makes it possible that undesirable but output-enhancing activities, such as cheating, may occur. Cheating may be especially tempting when one player has an advantage over another. This paper analyzes behavior in a two-player tournament when one player has a lead over the other, and each play...
Although the neural mechanisms underlying altruism remain unknown, empathy and its component abilities, such as the perception of the actions and intentions of others, have been proposed as key contributors. Tasks requiring the perception of agency activate the posterior superior temporal cortex (pSTC), particularly in the right hemisphere. Here, w...
People often prefer the known over the unknown, sometimes sacrificing potential rewards for the sake of surety. Overcoming impulsive preferences for certainty in order to exploit uncertain but potentially lucrative options may require specialized neural mechanisms. Here, we demonstrate by functional magnetic resonance imaging (fMRI) that individual...
Prices transmit information regarding the underlying quality of a product; when quality is unknown to both buyers and sellers, theory predicts that the same price should be charged for all products. However, in the Thoroughbred industry, difference fees are charged to breed to freshman sires, which are stallions of unknown quality standing their fi...
Citations
... Horse racing has a primary focus on safety. The availability of injury data and the sensitivity of the public to rider and horse safety are an opportunity to keep the social license on horseracing [10,11]. The epidemiological research associated with risk due to surface conditions is generally based on ratings on the turf. ...
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... The authors also find horse values were impacted by breed, sex, age color, and information provided in the horse's description including pictures contributed to sale prices. Bender and Stowe (2020) estimate buyer preferences for wild horses adopted through online auctions to include color, training level, age, height, sex, and seasonal trends. ...
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... Does the Sleman Chili Auction Market Affect…….. (Jamhari, Nasir, Nugroho, Ismiasih, and Yonekura) The Sleman chili auction market is one of the well-perform markets in Indonesia (Dewi, Nugroho, & Jamhari, 2021). This auction market was established in October 2017 to shorten the supply chain and reduce the price volatility of chili (Hansen & Stowe, 2018;Kibler & Thompson, 2020;Marks & Welsch, 2015;Marshall et al., 2021). Miyashita (2014) concludes tshat the auction market is beneficial for streamlining trade in perishable goods. ...
... Although well-designed control programs using acidogenic diets prepartum can reduce clinical hypocalcemia incidences to <1% [1], 25% of primiparous and >50% of multiparous cows have SCH in the first 48 h postpartum [2][3][4]. Considering the economic impact of SCH ($246/case) [5] and lack of effective on-farm diagnostic tools for SCH, supplementing dairy cows immediately postpartum with oral Ca boluses is a widely adopted management strategy in the US dairy industry. Administration of oral Ca supplements to multiparous cows increases blood Ca concentration in the first few hours following treatment [6][7][8]. ...
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... The last of the three equine survey studies was conducted in Kentucky [35,36]. This study includes a discussion of equine-related tourism from out of state, which is more important here than elsewhere in the U.S. It also reports data from a separate survey of Kentucky residents, in which they expressed a positive willingness to pay to preserve the state's equine industry. ...
... Only Neibergs (2001), Maynard and Stoeppel (2007), and Dority et al. (2016) focus on broodmares. Chezum and Wimmer (1997), Vickner and Koch (2001), Robbins and Kennedy (2001), Wimmer and Chezum (2006), Parson and Smith (2008), Plant and Stowe (2013), and Marion and Stowe (2016) all focus predominately on yearlings. Stowe and Ajello (2010) perform ordinary least squares (OLS) in their hedonic pricing model of stud fee determinants, while Stowe (2013) extends this model to include fixed effects. ...
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... Despite these efforts, public perception of the thoroughbred racing industry in relation to horse welfare is often highly varied (Fiedler and McGreevy, 2016). While some individuals believe that the attempts made to combat welfare issues in thoroughbreds have been successful, others believe that there is still a long road ahead and the current systems in place need major revision (Bergmann, 2015;Butler et al., 2019;Collins et al., 2008;Fiedler and McGreevy, 2016;Mundy, 1997;Stowe and Kibler, 2016). ...
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... The US appearance of nematodes is due to the structure of the parasite which, in longitudinal section, appears as a linear "train track" structure composed of two parallel hyperechoic lines, that represent the cuticle, separated by a narrow hypo/anechoic line constituted by the alimentary canal. In cross section, they have a "donut" appearance characterized by a hyperechoic circular wall with a hypo-anechoic center [58][59][60][61][62][63] (Figure 5). ...
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... Since the introduction of modern anthelmintic classes in the 1960s, parasite control efforts have been based on routine and frequent administration of anthelmintics to entire populations of horses in a primarily prophylactic manner (Drudge and Lyons, 1966). This approach, later termed the interval-dose program, has been widely adopted in equine establishments during the past several decades (O'Meara and Mulcahy, 2002;Robert et al., 2015;Becher et al., 2018). However, a heavy reliance on anthelmintic products comes with a risk of development of drug resistance to the compounds used, and this was evident already in the 1960s, where benzimidazole resistance was reported just a few years after the introduction of this class (Drudge et al., 1965). ...
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... The sale of yearlings at auction represents a major revenue stream for Thoroughbred breeders. To optimise auction sales price, and thus revenue, yearlings by higher service feecategory stallions and from mares with a successful racing career, and, if possible, successful progeny performance, are necessary (Vickner and Koch 2001;Stowe and Ajello 2010;Stowe 2013). There is an increase in auction sales price associated with physically mature yearlings, those born earlier in the season and older at the time of sale (Waldron et al. 2011). ...
