Table 3.
Regression Results for the Snow Crab Fishery, by Model Specification for the Joint Estimation
| Parameter | Probit | Logit | Extreme Value | Two-Stage Estimation |
|---|---|---|---|---|
| Production | ||||
| Constant | 15.3610** (2.83) | 15.3808** (2.82) | 15.3346** (2.81) | 15.3381** (2.75) |
| Length | 0.4173** (0.15) | 0.4186** (0.15) | 0.4246** (0.15) | 0.3702** (0.13) |
| Hp | - 1.6102** (0.41) | - 1.6136** (0.41) | - 1.6069** (0.41) | - 1.6957** (0.40) |
| Crew | 0.1458 (0.11) | 0.1486 (0.11) | 0.1504 (0.11) | 0.0682 (0.12) |
| Pots | - 0.9207** (0.42) | - 0.9248** (0.42) | - 0.9209** (0.42) | - 0.9190** (0.41) |
| Days | 0.0321 (0.04) | 0.0325 (0.04) | 0.0323 (0.04) | 0.0436 (0.04) |
| Hp X Pots | 0.2651** (0.06) | 0.2655** (0.06) | 0.2642** (0.06) | 0.2752** (0.06) |
| 2001 | - 0.9706** (0.05) | - 0.9694** (0.05) | - 0.9644** (0.05) | - 1.0342** (0.05) |
| 2002 | - 1.1187** (0.07) | - 1.1166** (0.07) | - 1.1095** (0.07) | - 1.2257** (0.06) |
| 2003 | - 0.5186** (0.05) | - 0.5177** (0.05) | - 0.5144** (0.05) | - 0.5700** (0.05) |
| 2004 | - 0.4646** (0.04) | - 0.4640** (0.04) | - 0.4621** (0.04) | - 0.4911** (0.05) |
| Exit decision | ||||
| Constant | - 1.2462 (0.64) | - 2.1519 (1.10) | - 1.1387 (0.81) | - 0.9266 (0.57) |
| Age | 0.0388** (0.01) | 0.0675** (0.02) | 0.0522** (0.01) | 0.0362** (0.01) |
| Length | - 1.5856** (0.72) | - 2.9358** (1.27) | - 2.4834** (0.96) | - 1.4131** (0.67) |
| Hp | 0.2632 (0.39) | 0.5270 (0.68) | 0.5305 (0.50) | 0.2402 (0.36) |
| Percentage revenue | 3.1363** (0.63) | 5.7815** (1.24) | 4.2730** (0.93) | 2.8697** (0.56) |
| Alaska vessel | 0.3502* (0.21) | 0.5339 (0.34) | 0.3016 (0.26) | 0.3509* (0.20) |
| Technical inefficiency | 2.0826** (0.76) | 3.7523** (1.38) | 3.4685** (1.17) | 4.1285** (1.44) |
 | 0.1430 | 0.1429 | 0.1429 | 0.1588 |
 | 0.1525 | 0.1533 | 0.1551 | 0.0831 |
| Number of observations | 941 | 941 | 941 | 941 |
| Log-likelihood value | - 640.90 | - 640.07 | - 639.78 | - |