Agriculture Reference
In-Depth Information
Table 7.3
Logit regression estimates of contract choice: Nebraska and South Dakota, 1986
(dependent variable=1ifshare contracts; 0 if cash rent contract)
Independent
All
Nonfamily
Oral
Annual
Predicted
variables
contracts
contracts
contracts
contracts
signs
CONSTANT
−
0.50
−
0.92
−
0.57
−
0.41
(
−
4.14)
(
−
4.06)
(
−
2.39)
(
−
1.18)
Ratchet effect variables
NEW FARMER
0.24
0.25
0.23
0.23
−
(1.48)
(1.12)
(0.98)
(0.65)
NEW LANDOWNER
0.06
−
0.14
−
0.16
−
0.44
+
(0.30)
(
−
0.47)
(
−
0.58)
(
−
1.06)
Control variables
ACRES
0.42
0.75
0.80
1.00
(4.39)
∗
(0.45)
(1.42)
(0.74)
AGE
0.10
0.09
0.13
0.14
(3.60)
∗
(2.31)
∗
(3.52)
∗
(2.49)
∗
FAMILY
−
0.02
−
0.33
−
0.003
(
−
2.65)
∗
(
−
0.26)
(
−
0.03)
HAY
−
0.36
−
0.40
−
0.54
−
0.65
(
−
3.01)
∗
(
−
2.41)
∗
(
−
3.36)
∗
(
−
2.57)
∗
INPUTS CHANGED
−
0.26
0.20
−
0.08
0.83
(
−
1.03)
(
−
0.20)
(0.49)
(0.76)
IRRIGATED
−
0.96
−
1.16
−
1.00
−
1.35
8.22)
∗
6.89)
∗
6.44)
∗
5.26)
∗
(
−
(
−
(
−
(
−
DENSITY
−
0.001
−
0.001
−
0.001
−
0.001
(
−
1.98)
(
−
0.91)
(
−
1.94)
(
−
1.56)
ROW CROP
2.76
3.20
2.54
2.86
(28.30)
∗
(22.4)
∗
(19.42)
∗
(13.67)
∗
YEARS DURATION
0.03
0.03
0.02
0.02
(6.50)
∗
(4.23)
∗
(2.53)
∗
(2.07)
∗
Log likeliood
−
2,077.5
−
1,79
−
1,109
−
493
% correct
81.56
83.58
81.81
83.42
2
(df )
Model
χ
1202 (11)
862.2 (10)
528.6 (11)
308.2 (11)
Observations
3,432
1,912
2,067
947
Note:
t-statistics in parentheses.
∗
significant at 5 percent (one-tailed test for coefficients with predicted signs).
