Environmental Asset Functions for the Farms Sample for the Main Scenario (Number of Observations = 567)
| Variablea | Main Scenario (Discount Rate = 3%, Price Level: 2010 = 1.0) | |||||
|---|---|---|---|---|---|---|
| EAPrb | EACc | EAWd | ||||
| Coef. | Std. Err.e | Coef. | Std. Err.e | Coef. | Std. Err.e | |
| Constant | 67.52 | 47.37 | −208.34*** | 70.76 | 178.09 | 122.24 |
| Slope | −34.11 | 70.10 | 416.90*** | 102.10 | 780.70*** | 204.14 |
| Density (BA) | −14.47*** | 1.24 | 49.15*** | 2.13 | 50.87*** | 2.32 |
| SQI | 966.87*** | 60.76 | −110.35 | 78.32 | −380.32*** | 111.80 |
| SQS | 1,248.82*** | 82.57 | −393.02*** | 101.97 | −270.82** | 150.83 |
| SPP | 705.27*** | 97.37 | 726.54** | 279.21 | 179.35 | 329.18 |
| SSP | −43.88 | 58.50 | 50.17 | 74.76 | 676.65*** | 210.16 |
| R2 | 0.68 | 0.78 | 0.49 | |||
↵a The functions estimate the environmental asset value (in euros per hectare). Slope is estimated as a percentage value, density (BA) refers to the initial basal area (in square meters per hectare). The share (S) variables indicate the proportion of the farm area occupied by different land use classes (in percentage): SQI, share of Quercus ilex; SQS, share of Q. suber; SPP, share of Pinus sp.; SSP, share of shrublands and grasslands.
↵b EAPr: environmental asset value of silvopastoral provisioning services.
↵c EAC: environmental asset value of carbon sequestration.
↵d EAW: environmental asset value of water provisioning service.
↵e Robust standard error.
* p< 0.10;
↵** p< 0.05;
↵*** p<0.01.