Table 2

Results from Estimating Equation [2′] By Successively Including Regressors

Regression (i): EffortRegression (ii): Effort and Fish StockRegression (iii): Effort, Fish Stock, and Time Dummiesa
No. of observations267267267
a10.2801 (0.95)−0.0563 (−0.17)0.8032** (3.38)
a20.4724 (1.49)0.6695 (1.96)0.1235 (0.57)
b0.4436** (4.22)0.4502** (4.81)
Dummy hand line−1.3678** (−4.47)−1.6618** (−4.79)−0.9297** (−4.64)
Dummy long line0.0354 (0.16)−0.0532 (−0.20)0.1690 (1.63)
d00−05−1.7183** (−7.04)
d06−11−1.4954** (−6.49)
d12−17−1.4163** (−6.20)
d18−23−1.1205** (−4.76)
d24−29−0.8990** (−3.37)
d30−35−1.0486** (−3.83)
d36−41−0.7892** (−2.89)
d42−47−0.5762* (−2.07)
d48−53−0.8589** (−3.20)
d54−59−0.6685** (−2.93)
d60−65−0.4532* (−2.29)
d66−710.3202 (1.71)
d72−770.2433 (1.33)
d78−830.4335* (2.52)
ln A0.2359 (0.37)
D-W statistic (original)0.60010.59661.5239
D-W statistic (transformed)1.91302.03131.8715
R20.52900.52600.8478

  • Note: t-Values in parentheses.

  • ↵a With Prais-Winsten correction for autocorrelation.

  • ↵* Significant at the 5% level;

  • ↵** significant at the 1% level.