AGRICULTURAL PRODUCERS' WILLINGNESS TO PAY FOR REAL-TIME MESOSCALE WEATHER INFORMATION



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
Estimate

Mean

Parameter
Estimate

NEWS

7.58

0.0237*

(0.0135)

7.69

0.0188
(0.0155)

DATA

0.364

0.1833
(0.2296)

0.351

0.1901

(0.2683)

ACRES

9.30

- 0.0049

(0.0110)

9.65

-0.0173

(0.0122)

DEBT

21.0

0.0029
(0.0059)

21.3

-0.0051

(0.0064)

FULL

0.271

- 0.5494**
(0.2461)

0.254

-0.3711

(0.2869)

COMP

0.364

0.1466
(0.2445)

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
(0.2626)

PEANUT

0.112

- 0.3683

(0.3868)

0.114

- 0.2074

(0.4196)

COTTON

0.224

- 0.0501
(0.2526)

0.237

-0.0745

(0.2822)

LOSS

0.144

1.1589**

(0.5234)

0.144

1.4004**
(0.5798)

CROPS

2.64

0.0297
(0.0868)

2.670

0.1377
(0.0996)

YEARI

0.028

-0.3233

(0.6176)

0.026

-0.1775

(0.7295)

YEAR2

0.280

0.1208
(0.3000)

0.298

0.0077
(0.3243)

YEARS

0.234

0.0602

(0.3131)

0.237

-0.2113

(0.3487)

YEAR4

0.215

-0.0780

(0.2942)

0.211

0.0796
(0.3377)

EDUC2

0.271

0.1368
(0.3092)

0.281

0.0090
(0.3318)

EDUC3

0.495

0.4014

(0.2910)

0.491

0.0779
(0.3368)

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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