Agriculture Reference
In-Depth Information
Table 7.6
Logit regression estimates of changes in share contracts: Nebraska and South Dakota (1986)
(dependent variable=1iffarmer's share increased in past 5 years;=0ifnot)
Independent variables
Predicted signs
CONSTANT
−
3.15
8.03)
∗
(
−
Ratchet effect variables
NEW FARMER
0.55
+
(1.77)
∗
NEW LANDOWNER
(0.16)
−
(0.33)
Control variables
ACRES
0.00
(0.46)
FAMILY
0.00
(0.02)
HAY
−
0.18
(
−
0.58)
INPUTS CHANGED
2.91
(9.50)
∗
IRRIGATED
−
0.25
(
−
0.75)
DENSITY
0.00
(0.69)
ROW CROP
−
0.84
2.59)
∗
(
−
YEARS DURATION
−
0.01
(
−
1.13)
Log likelihood
−
307.59
% correct
97.19
Observations
2,424
Note:
t-statistics in parentheses.
∗
significant at 5 percent (one-tailed test for coefficients with predicted signs).
