Issues concerning Landowner Management Plan Adoption Decisions: A Recursive Bivariate Probit Approach

Table 1

Definition and descriptive statistics of variables used in the model for landowner decision to prepare forest management plan.

Variable	Definition units	Mean	Std. dev.
MGTDECI	Whether or not landowner obtained a forest management plan, 1 if obtained, 0 otherwise	0.279
ACRE	Total land of the landowner, 1 if it is more than 500 acres, 0 otherwise	0.244
PP	The land occupied by planted pine, 1 if more than 50%, 0 otherwise	0.454
BEQUEST	Landowner interest for timberland bequest, 1 if landowner is interested, 0 otherwise	0.886
FUHAR	Landowner plan to harvest timber in future, 1 if landowner is interested, 0 otherwise	0.911
HAB	Wildlife habitat management objective, 1 if management objective is wildlife habitat management, 0 otherwise	0.796
FIN	Obtaining optimal financial benefit as management objective, 1 if management objective is obtaining financial benefit, 0 otherwise	0.83
INV	Considering forest as an investment asset, 1 if landowner considers, 0 otherwise	0.84
DUR	Duration of timberland ownership in years	33.219	23.15
AGE	The age of the landowner	64.72	12.65
EDUCATION	The highest level of landowner’s education, 1 if respondent has bachelor’s degree or higher, 0 otherwise	0.574
GENDER	Gender of landowner, 1 if male, 0 otherwise	0.820
INCOME	Income of landowner, 1 if annual household income is more than $50,000, 0 otherwise	0.756

^*Standard deviation is only reported for a continuous variable.