Table 2.
Regression Results for the Red King Crab Fishery, by Model Specification for the Joint Estimation
| Parameter | Probit | Logit | Extreme Value | Two-Stage Estimation |
|---|---|---|---|---|
| Production | ||||
| Constant | - 3.2559 (2.10) | - 3.2596 (2.09) | - 3.2198 (2.08) | - 3.3322 (2.24) |
| Length | 0.4030** (0.11) | 0.4020** (0.11) | 0.4027** (0.11) | 0.3667** (0.10) |
| Hp | 0.9207** (0.30) | 0.9213** (0.30) | 0.9156** (0.30) | 0.8445** (0.32) |
| Crew | 0.3534** (0.12) | 0.3518** (0.12) | 0.3495** (0.12) | 0.2850** (0.12) |
| Pots | 0.7912** (0.05) | 0.7918** (0.05) | 0.7917** (0.05) | 0.8800** (0.05) |
| Days | 3.6074** (1.13) | 3.6084** (1.12) | 3.5899** (1.12) | 3.2861** (1.20) |
| Hp X Days | - 0.4610** (0.16) | - 0.4611** (0.16) | - 0.4583** (0.16) | - 0.4099** (0.17) |
| 2000 | - 0.7357** (0.04) | - 0.7360** (0.04) | - 0.7360** (0.04) | - 0.7571** (0.04) |
| 2001 | - 0.3167** (0.04) | - 0.3166** (0.04) | - 0.3167** (0.04) | - 0.2970** (0.04) |
| 2002 | - 0.1894** (0.04) | - 0.1892** (0.04) | - 0.1891** (0.04) | - 0.1658** (0.04) |
| 2003 | - 0.4367** (0.05) | - 0.4371** (0.05) | - 0.4372** (0.05) | - 0.4754** (0.05) |
| Exit decision | ||||
| Constant | - 0.4839 (0.64) | - 0.8556 (1.10) | - 0.2037 (0.77) | - 0.1482 (0.49) |
| Age | 0.0394** (0.01) | 0.0671** (0.02) | 0.0497** (0.01) | 0.0338** (0.01) |
| Length | - 1.2517* (0.68) | - 2.1316* (1.16) | - 1.6763** (0.84) | - 1.0599* (0.54) |
| Hp | 0.2209 (0.33) | 0.3749 (0.56) | 0.3395 (0.42) | 0.1574 (0.28) |
| Percentage revenue | - 0.1794 (0.52) | - 0.2981 (0.89) | - 0.2146 (0.62) | - 0.1929 (0.45) |
| Alaska vessel | - 0.1419 (0.20) | - 0.2407 (0.35) | - 0.1581 (0.25) | - 0.1514 (0.18) |
| Technical inefficiency | 5.1411** (2.13) | 9.0755** (3.96) | 7.0500** (2.87) | 14.5679** (3.24) |
 | 0.1780 | 0.1783 | 0.1782 | 0.1901 |
 | 0.0678 | 0.0665 | 0.0666 | 0.0253 |
| Number of observations | 1,187 | 1,187 | 1,187 | 1,187 |
| Log-likelihood value | - 884.85 | - 884.85 | - 884.81 | - |