Jones et al.: Value of Bull Characteristics
323
Table 3. (Continued)
|
Marginal |
Discrete |
Elasticities | |||||
|
Parameter |
Standard |
t- |
p- |
Average |
Variable |
at Variable | |
|
Variable |
Estimate |
Error |
Statistic |
Value |
Price |
Shifts |
Averages |
|
sr25 |
20.013770 |
0.061070 |
20.23 |
0.8220 |
253.33 |
|
Sales | |||||
|
sale2*** |
20.299080 |
0.050090 |
25.97 |
0.0000 |
21,008.07 |
|
Sale6 |
0.018690 |
0.050590 |
0.37 |
0.7120 |
73.57 |
|
Sale7 |
0.006470 |
0.048430 |
0.13 |
0.8940 |
25.31 |
|
sale10*** |
20.502890 |
0.065620 |
27.66 |
0.0000 |
21,541.23 |
|
sale11*** |
20.289390 |
0.109800 |
22.64 |
0.0080 |
2979.91 |
|
sale12*** |
20.292490 |
0.038960 |
27.51 |
0.0000 |
2988.95 |
|
sale13** |
20.256520 |
0.110100 |
22.33 |
0.0200 |
2882.34 |
|
sale15*** |
20.353470 |
0.136100 |
22.60 |
0.0090 |
21,161.14 |
|
sale16** |
20.134510 |
0.056110 |
22.40 |
0.0170 |
2490.80 |
|
sale18*** |
0.190250 |
0.054960 |
3.46 |
0.0010 |
817.19 |
|
sale19*** |
0.162840 |
0.055410 |
2.94 |
0.0030 |
689.65 |
|
sale20*** |
0.305420 |
0.055740 |
5.48 |
0.0000 |
1,392.95 |
|
sale21*** |
0.257810 |
0.047080 |
5.48 |
0.0000 |
1,146.87 |
|
sale22*** |
0.321280 |
0.046780 |
6.87 |
0.0000 |
1,477.56 |
|
sale23*** |
0.202470 |
0.046370 |
4.37 |
0.0000 |
875.18 |
|
sale24*** |
0.184600 |
0.046570 |
3.96 |
0.0000 |
790.61 |
|
sale26*** |
0.160090 |
0.042750 |
3.75 |
0.0000 |
677.05 |
|
sale28* |
0.108910 |
0.056110 |
1.94 |
0.0520 |
448.70 |
|
sale29 |
0.045880 |
0.044600 |
1.03 |
0.3040 |
183.09 |
|
sale30 |
20.021650 |
0.053200 |
20.41 |
0.6840 |
283.52 |
|
sale34** |
20.099870 |
0.045830 |
22.18 |
0.0290 |
2370.64 |
|
sale36*** |
20.352000 |
0.055990 |
26.29 |
0.0000 |
21,157.11 |
|
sale37*** |
0.140290 |
0.047200 |
2.97 |
0.0030 |
587.32 |
|
sale38* |
20.215630 |
0.120400 |
21.79 |
0.0730 |
2756.41 |
|
sale39*** |
20.598000 |
0.118800 |
25.03 |
0.0000 |
21,755.20 |
|
sale41*** |
20.394050 |
0.046030 |
28.56 |
0.0000 |
21,270.05 |
|
sale42*** |
20.349330 |
0.044880 |
27.78 |
0.0000 |
21,149.78 |
|
sale43*** |
0.263350 |
0.060250 |
4.37 |
0.0000 |
1,174.90 |
|
sale44*** |
20.145100 |
0.036420 |
23.98 |
0.0000 |
2526.71 |
|
sale46 |
0.046980 |
0.059790 |
0.79 |
0.4320 |
187.58 |
|
sale48 |
0.018100 |
0.045950 |
0.39 |
0.6940 |
71.23 |
|
sale49 |
20.037320 |
0.062010 |
20.60 |
0.5470 |
2142.85 |
|
sale51*** |
20.487100 |
0.116500 |
24.18 |
0.0000 |
21,503.69 |
|
sale52*** |
0.366290 |
0.069070 |
5.30 |
0.0000 |
1,725.11 |
|
sale53 |
0.079720 |
0.049260 |
1.62 |
0.1060 |
323.61 |
|
sale54** |
20.154150 |
0.073800 |
22.09 |
0.0370 |
2557.09 |
|
sale55 |
0.043340 |
0.049880 |
0.87 |
0.3850 |
172.73 |
|
sale58*** |
0.219500 |
0.046120 |
4.76 |
0.0000 |
957.19 |
|
sale59*** |
20.196740 |
0.049820 |
23.95 |
0.0000 |
2696.47 |
|
sale60*** |
0.256410 |
0.046410 |
5.53 |
0.0000 |
1,139.81 |
|
R2 |
0.6363 | ||||
|
Observations |
4,151 |
*** Denotes significance at the 0.01 level.
** Denotes significance at the 0.05 level.
* Denotes significance at the 0.10 level.