Research Article
Farmers’ Willingness to Pay a High Premium for Different Types of Agricultural Insurance: Evidence from Inner Mongolia, China
Table 6
Estimation results of the Heckman two-stage model.
| | Variables | 60%of total cost product | Total cost product | Output product | | First stage | Second stage | First stage | Second stage | First stage | Second stage |
| | Age | 0.0333 | 0.0373 | 0.0323 | 0.0417 | 0.0255 | 0.0422 | | | (−1.74) | (−5.72) | (−1.84) | （−5.3） | （−1.52） | （−5.2） | | Edu | −0.129 (−0.91) | 0.105 | −0.0575 (-0.45) | 0.117 | 0.0559 | 0.246 | | | | (−1.17) | | (−1.95) | (−0.45) | (−4.03) | | Year | −0.407 (−1.73) | −0.316 (−3.53) | −0.388 (−1.80) | −0.347 (−3.19) | −0.351 (−1.69) | −0.318 (-2.80) | | Land | 0.872 | 0.793 | 0.842 | 0.850 | 0.518 | 0.573 | | | (−2.03) | (−5.28) | (−2.11) | (−4.71) | (−1.34) | (−3.13) | | Spe | −0.387 (−2.91) | −0.112 (−1.83) | −0.358 (-2.92) | −0.210 (−2.76) | −0.271 (−2.33) | −0.127 (−1.85) | | Claim | −0.0005 (−0.25) | −0.0003 (−0.41) | −0.0025 (−1.35) | −0.0010 (−1.00) | −0.0016 (−0.90) | −0.0007 (−0.71) | | Inc | 0.0335 | 0.0576 | 0.047 | 0.0707 | 0.0124 | 0.0841∗ | | | (−0.37) | (−2.04) | (−0.57) | (−2.06) | (−0.16) | (−2.37) | | Risk | 0.401 | — | 0.329 | — | 0.375 | — | | | (−1.97) | | (−1.99) | | (−2.12) | | | Deg | 0.0831 | −0.0179 (−0.97) | 0.0417 | 0.00235 | 0.0347 | −0.0157 (−0.72) | | | (−1.67) | | (−0.93) | (−0.11) | (−0.8) | | | Loan | 0.0468 | −0.00663 (−0.72) | 0.0282 | 0.00933 | 0.0511 | 0.0123 | | | (−1.1) | | (−0.93) | (−0.81) | (−1.65) | (−0.97) | | Div | −0.052 (−0.20) | −0.0154 (−0.18) | −0.397 (−1.63) | −0.264 (−2.02) | −0.191 (−0.82) | −0.215 (−1.82) | | λ | — | 0.763 | — | 1.316 | — | 0.931∗ | | | | (−2.23) | | (−3.4) | | （-2.52） | | Number | 252 | 197 | 252 | 184 | 252 | 173 | | Wald test | 90.02 | 70.27 | 55.92 | | Value | 0.0000 | 0.0000 | 0.0000 |
|
|
Note. The value of t is in brackets; , , and , respectively, indicate that the variables are significant at the statistical level of 10%, 5%, and 1%. |
