Business Commons^™

Hay: A Hedonic Study, Chester R. Broadbent

All Graduate Reports and Creative Projects, Fall 2023 to Present

Hedonic price theory posits that the price of a product is influenced by the values consumers assign to its individual attributes. Hay is a versatile commodity with variation across several attributes helping to cater to diverse needs of consumers. A detailed analysis using hedonic regression techniques within hay pricing can help producers, stakeholders, and educators more fully understand the marginal values consumers place on diverse hay attributes. Previous studies focused on limited scopes within the hay industry or other sectors, allowing room for broader investigation. This study examines qualitative attributes impacting hay pricing, revealing significant influences from factors like location, …