Table 3.

Equality of Means of the Components of Landowners' Bids by CRD, Sign-up 18

				Maximum Rental Rate^a		Bid		Discount of Bid from Maximum
State	CRD	PP^b	Number of Offers	Mean ($)	i-Stat.	Mean ($)	t-Stat.	Mean ($)	t-Stat.
IA	1950	0	418	115.76		105.06		10.70
		1	340	135.50	— 17.87^***	117.04 ^-	− 11.59^***	18.46	— 8.01^***
IA	1940	0	472	106.07		98.50		7.57
		1	106	133.38	— 16.91^***	110.64	— 8.1^***	22.74	— 8.96^***
IA	1910	0	130	107.88		92.02		15.86
		1	335	118.85	— 6.55^***	98.72	— 4.07^***	20.13	— 2.5^**
MN	2750	0	335	43.62		41.82		1.80
		1	446	79.56	— 30.26^***	73.14 ^—	30.06^***	6.42	— 10.6^***
MN	2740	0	32	65.88		60.23		5.65
		1	960	68.91	— 2.23^**	63.33	— 1.77^*	5.59	0.05
MN	2710	0	36	38.55		37.96		0.59
		1	3,467	43.87	— 5.99^***	42.34	— 5.18^***	1.53	— 4.03^***
MT	3050	0	292	33.44		33.00		0.45
		1	58	36.57	— 4.23^***	36.57	— 4.74^***	0.00	4.46^***
MT	3030	0	436	30.67		30.14		0.53
		1	1,201	29.94	4.55^***	29.73	2.47^**	0.21	4.82^***
ND	3890	0	28	55.78		51.92		3.86
		1	1,418	41.32	10.39^***	40.82	8.76^***	0.50	3.37^***
ND	3860	0	38	53.02		51.10		1.92
		1	862	40.32	11.03^***	40.01	9.83^***	0.30	2.8^**
ND	3830	0	213	45.85		42.20		3.64
		1	1,212	39.66	14.74^***	38.18	8.34^***	1.48	6.12^***
ND	3840	0	267	24.16		23.98		0.18
		1	238	32.22	— 30.22^***	31.65 ^—	27.33^***	0.57	— 3.73^***
ND	3880	0	230	26.01		25.02		0.99
		1	365	28.57	— 12.33^***	28.18 ^—	14.63^***	0.39	4.95^***

Note: CRD, crop reporting district; IA, Iowa; MN, Minnesota; MT, Montana; ND, North Dakota.
↵a MRR is the maximum rental rate the landowner can offer; this is unique for each parcel.
↵b PP = 0 denotes offers that did not receive the Prairie Pothole CPA points; PP = 1 denotes offers that did.
↵* Significance at the 10% level;
↵** significance at the 5% level;
↵*** significance at the 1% level.