Estimating The Annual Cost Of Ownership Of A Recreational Horse In Indiana

Abstract

A number of studies have attempted to estimate the cost of horse ownership in various States. These studies provided valuable information regarding the types of costs associated with horse ownership and an estimate of a grand average cost. Horse ownership is more complex depending on a variety of factors including location, breed, horserelated activities, and potential revenues. In this study, a regression model is developed that provides insights into the factors most relevant to horse ownership costs as well as a more effective model for estimating horse ownership costs in Indiana when compared to an estimation of cost based on a general average.