366 December 1995
Journal of Agricultural and Resource Economics
Table 4. Factors Affecting Willingness to Pay for Mesoscale Weather Information
Variable |
_______Raw Weather Data |
_____Value-Added Data | ||
Mean |
Parameter |
Mean |
Parameter | |
NEWS |
7.58 |
0.0237* (0.0135) |
7.69 |
0.0188 |
DATA |
0.364 |
0.1833 |
0.351 |
0.1901 (0.2683) |
ACRES |
9.30 |
- 0.0049 (0.0110) |
9.65 |
-0.0173 (0.0122) |
DEBT |
21.0 |
0.0029 |
21.3 |
-0.0051 (0.0064) |
FULL |
0.271 |
- 0.5494** |
0.254 |
-0.3711 (0.2869) |
COMP |
0.364 |
0.1466 |
0.351 |
-0.0137 (0.2778) |
SALES |
17.2 |
0.013l** (0.0065) |
17.9 |
0.0185** (0.0072) |
IRRIG |
0.252 |
0.7632** (0.2764) |
0.263 |
0.7594** (0.3074) |
ALFALFA |
0.402 |
-0.0051 (0.2323) |
0.404 |
0.0280 |
PEANUT |
0.112 |
- 0.3683 (0.3868) |
0.114 |
- 0.2074 (0.4196) |
COTTON |
0.224 |
- 0.0501 |
0.237 |
-0.0745 (0.2822) |
LOSS |
0.144 |
1.1589** (0.5234) |
0.144 |
1.4004** |
CROPS |
2.64 |
0.0297 |
2.670 |
0.1377 |
YEARI |
0.028 |
-0.3233 (0.6176) |
0.026 |
-0.1775 (0.7295) |
YEAR2 |
0.280 |
0.1208 |
0.298 |
0.0077 |
YEARS |
0.234 |
0.0602 (0.3131) |
0.237 |
-0.2113 (0.3487) |
YEAR4 |
0.215 |
-0.0780 (0.2942) |
0.211 |
0.0796 |
EDUC2 |
0.271 |
0.1368 |
0.281 |
0.0090 |
EDUC3 |
0.495 |
0.4014 (0.2910) |
0.491 |
0.0779 |
Constant |
0.3645 |
0.2183 |
Note: One asterisk denotes significance at the 10% level and two asterisks denote significance at the 5% level.
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