Is the percentage of purse monies, paid to jockeys, negotiable or mandated?
Could a jockey charge less?
If it is mandated, could the authority set a lower fee for claiming races? Or any race for that matter?
If jockeys can charge what they want, they could compete on price and maybe the unknown jockeys could get a few more mounts out of the deal. Owners would, I imagine, take the offer from a jockey who can ride.
Elite jockeys would be in demand in the bigger races, where the marginal utility of their services would provide greater return.
I don't know of any studies and I imagine the competitive nature of jockeys skews this theory but would not the opportunity costs of riding in a low level claimer outweigh the potential return from any race. I think Jerry Bailey understood this concept.
If unknown jockeys can charge whatever they want, "elite" jockeys would probably reconsider riding that claimer for the same amount, focusing their attention on the higher purse races.
In theory.
21 March 2010
Fees bleg
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The Bid
Greatest horse ever to look through a bridle
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In theory. Real life - transaction costs would be way too high. Watching jockey agents negotiate with trainers wouldn't be my idea of fun. The way it works now, with most of the money going to the winning jock, trainers try to convince agents that the trainer's horse has the best shot. Add in the jocks' interest in maintaining relationships with particular trainers, and trainers' and agents' collective ineptness as handicappers, and it'd be way too complicated to add in $$ negotiations. As always, though, stimulating thoughts.
Ahh-Free Market enterprise-great idea my good conservative friend
Thanks Steve-
I guess I don't understand why the no name jockeys wouldn't give this a whirl.
I get trainers try to convince the agent to ride for them. I understand there are connections and relationships. I'm talking about the no name jocks who don't have those connections. Why wouldn't they try to compete on price?
If you as an owner could get a guy who could ride AND you only had to pay him 5%, would you not instruct your trainer to try and get him? I am sure there are plenty of jocks who can ride, whose name isn't Desormeaux or Gomez.
Unless there is some jockey union rule or whatever keeping the no names from actually doing this.
Thanks for checking in.
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