Hedonic pricing of goat characteristics at the market level: the case of Pakistan

Abstract

This study carries out hedonic price analysis of goat’s characteristics in five major markets of Pakistan. Data were collected about the various characteristics of each traded animal during the year 2016 through a structured questionnaire by using a personal interview method. A log-linear model was fitted to a sample of 500 observations in order to examine the determinants of observed goat prices. The results of the study showed that live weight, age, and sex were goat characteristics preferred by buyers and had significant positive effects on the prices of goats. Further, significant premiums were associated with the purpose of buying and marketplace. This study indicates that goat producers can improve their profitability when they target goat sales based on weight, marketing place, age, sex and time of sale, especially at the Muslim festival, Eid-ul-Azha.