Date Available
8-1-2024
Year of Publication
2024
Degree Name
Master of Science (MS)
Document Type
Master's Thesis
College
Agriculture, Food and Environment
Department/School/Program
Agricultural Economics
First Advisor
Dr. C. Jill Stowe
Abstract
The decline in the number of equine veterinarians creates significant challenges for the future of equine veterinary medicine. One crucial aspect of this issue is how the financial health of equine veterinary practices might be improved. Examining how horse owners respond to changes in the prices of veterinary services allows practices to determine whether adjusting prices can improve practices’ financial standing. Using an online stated preference survey completed by 4,992 horse owners in the U.S., this study investigates horse owner preferences for equine veterinary services. First, horse owners’ utilization of equine veterinary services and willingness to adapt to the changes in the provision of services are gathered. Next, horse owners’ price sensitivity for three common equine veterinary services is estimated. Finally, the determinants of willingness-to-pay (WTP) for each service is explored. Results suggest that demand for routine vaccinations, lameness exams, and emergency colic surgeries is elastic. Many horse ownership and demographic attributes are statistically significant determinants of WTP; however, poor model fit suggests that additional factors outside of those measured may explain more of the variation in the responses.
Digital Object Identifier (DOI)
https://doi.org/10.13023/etd.2024.350
Funding Information
This study was supported by a Tuition Scholarship from University of Kentucky Agriculture Economics Department in 2022, 2023, and 2024.
Recommended Citation
Gibson, Olivia, "Horse Owner Preferences for Equine Veterinary Services" (2024). Theses and Dissertations--Agricultural Economics. 110.
https://uknowledge.uky.edu/agecon_etds/110
