“…Most of the current studies of the relationship between animal welfare and economic performance are based on expert information or test stations, but their results have not yet been validated in commercial farms under real‐world conditions. The few studies that are based on real‐world farm‐level data (to our knowledge only Lawson et al ., ,b; Barnes et al ., ; and Stott et al ., ) have all been conducted in the dairy or sheep sector and mostly use animal health indicators as proxies for animal welfare, while the relationship between animal welfare and economic performance has – to our knowledge – not yet been empirically analysed for pig farms. In order to close this gap in the literature, we investigate the empirical relationship between animal welfare and the economic performance of Danish pig farms, which is of particular relevance because a number of animal welfare issues are specific to pig farms, e.g.…”