Table 4 Estimated parameters of... | Emerald Publishing

Table 4

Estimated parameters of multinomial logit for likelihood of feeder cattle LRP purchases relative to coverage levels less than 89.99% (n = 36,488)

	Coverage 90%–94.99%		Coverage >95%
Parameters	Parameter estimate	Standard error	Parameter estimate	Standard error
Ln(expected price)	2.495**	0.571	1.993***	0.485
2019 subsidy change	0.260	0.464	1.167***	0.882
2020 subsidy change	0.595	0.457	1.846***	0.776
17-week	−0.006	0.164	−0.163	0.444
21-week	−0.262	0.150	−0.619***	0.852
26-week	−0.663	0.163	−1.049***	0.442
30-week	−0.471	0.194	−0.952***	0.426
34-week	−0.803***	0.217	−1.132***	0.681
39-week	0.089***	0.335	−0.381	0.447
43-week	−0.534	0.378	−1.027**	0.488
47-week	−0.435	0.754	−0.704	0.453
52-week	–		–
Month fixed effects	Yes^a		Yes^a
Year fixed effects	Yes^a		Yes^a
State fixed effects	Yes^a		Yes^a
Intercept	−10.875***	3.087	−8.191**	2.887
R-squared	0.1343

	Coverage 90%–94.99%		Coverage >95%
Parameters	Parameter estimate	Standard error	Parameter estimate	Standard error
Ln(expected price)	2.495**	0.571	1.993***	0.485
2019 subsidy change	0.260	0.464	1.167***	0.882
2020 subsidy change	0.595	0.457	1.846***	0.776
17-week	−0.006	0.164	−0.163	0.444
21-week	−0.262	0.150	−0.619***	0.852
26-week	−0.663	0.163	−1.049***	0.442
30-week	−0.471	0.194	−0.952***	0.426
34-week	−0.803***	0.217	−1.132***	0.681
39-week	0.089***	0.335	−0.381	0.447
43-week	−0.534	0.378	−1.027**	0.488
47-week	−0.435	0.754	−0.704	0.453
52-week	–		–
Month fixed effects	Yes^a		Yes^a
Year fixed effects	Yes^a		Yes^a
State fixed effects	Yes^a		Yes^a
Intercept	−10.875***	3.087	−8.191**	2.887
R-squared	0.1343

Note(s): The base of the model is coverage level policies less than 89.99% and no 52-week policies were sold for feeder cattle

*, **, *** represent significance at the 10%, 5% and 1% levels, respectively

^aThese variables are included in the model but not reported

Source(s): Authors’ own work based on data analysis