Table 3 Marginal Willingness to Pay Estimates (in Hundreds of Dollars)

	Random Time Parameter with 8 Observed Characteristics		Fixed Time Parameter with 17 Observed Characteristics
Variable	Exponential	Hyperbolic	Exponential	Hyperbolic
INTERCEPT	1.91 (0.88)	5.17 (0.75)	19.07 (0.11)	32.05 (0.17)
NUM_RES	−157.8 (0.00)^*	−189.68 (0.05)^**	−160.42 (0.00)^*	−280.54 (0.03)^**
PIVOT	7.58 (0.09)^***	8.97 (0.15)	−7.84 (0.06)^**	−15.33 (0.09)^***
COVER_CROP	22.42 (0.01)^*	22.47 (0.08)^***	3.58 (0.56)	4.45 (0.66)
LCRED_USE	−75.12 (0.01)^*	−94.67 (0.06)^***	−136.78 (0.00)^*	−244.67 (0.02)^**
CRED_AWARE	−8.09 (0.21)	−9.58 (0.25)	−8.30 (0.34)	−13.79 (0.30)
CRED_USE	122.65 (0.00)^*	153.83 (0.03)^**	131.61 (0.00)^*	239.63 (0.02)^**
GW_RISE	−19.08 (0.03)^**	−24.89 (0.08)^***	2.29 (0.73)	4.70 (0.68)
CROWLEY	−21.93 (0.02)^**	−25.75 (0.08)^***	−21.50 (0.02)^**	−32.71 (0.07)^***
GW_SHORT	2.88 (0.66)	1.13 (0.88)	−16.67 (0.02)^**	−29.27 (0.08)^***
D_INC_MIDHIGH	5.24 (0.56)	2.47 (0.82)	23.87 (0.01)^*	38.90 (0.07)^***
D_INC_NA	18.28 (0.09)^***	18.28 (0.21)	13.85 (0.19)	16.74 (0.36)
AGRI_EDU	22.65 (0.02)^**	37.13 (0.04)^**	0.51 (0.93)	4.72 (0.64)
D_ADV_EDU	−13.10 (0.22)	−23.13 (0.12)	34.90 (0.01)^*	57.56 (0.07)^***
HIGH_EXPER	21.34 (0.02)^**	24.42 (0.08)^***	−12.48 (0.06)^***	−22.16 (0.11)
DUCKORG	16.61 (0.02)^**	22.01 (0.06)^***	36.68 (0.00)^*	62.82 (0.02)^**
PEER_DRAIN	−8.33 (0.29)	−4.73 (0.62)	−7.32 (0.19)	−10.41 (0.30)
PEER_EFF	−4.40 (0.27)	−7.74 (0.20)	−3.94 (0.29)	−9.40 (0.18)
SHIFT	−10.09 (0.04)^**	−12.54 (0.09)^**	−7.99 (0.04)^**	−12.49 (0.12)

Note: p-values for the coefficients shown in parentheses beside the coefficients. We round p-values < 0.001–0.00.
↵* p < 0.1;
↵** p < 0.05;
↵*** p < 0.01.