Note: Significance tests are conducted using Stata svy postestimation, which allows weighting (see www.stata.com/manuals13/rttest.pdf for details). All variables are from the USDA ARMS database, years 2003-2011. Summary statistics are weighted means and standard deviations using ARMS sampling weights and calculated after excluding farms without cash rental rate information, those with less than $5,000 in total value of production as well as farms that were predominantly livestock, woody tree, or nursery production, or located in a crop reporting district without observed organic farms. Land value is the estimated value for rented-not owned-land. Rental ratio is the ratio of rented to total operated acres. In ARMS, premiums are included in the fixed cost variable. Production revenue is revenue from commodity sales only; other sources of income are considered separately. ROVC is the return over variable cost equal to production revenue minus variable cost. All per acre variables are winsorized at the top 1%. ROVC per acre was winsorized at the bottom and top 1%. We inflate all dollar-denominated variables to 2011 (the last year of data we use) using the GDP deflator.

* p < 0.1; ** p < 0.05; *** p < 0.01 (from t-tests of organic versus conventional means).