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Table 5 Results of the OLS and heteroscedastic consistent (HC0, HC3, HC3) hedonic models

From: What determine the price of Bonga sheep at the market level in Southwestern Ethiopia? A hedonic price analysis

Explanatory variables Coef. (OLS Std. Err) Coef. (HC0 Std. Err) Coef. (HC2 Std. Err) Coef. (HC3 Std. Err) IP (ETB/head)
Market place (boka as a base category)  
 Bonga 0.0977***(0. 0226) 0.0977***(0. 0227) 0.0977***(0. 0225) 0.0977***(0. 0229) 268.77
 Gojjeb 0.1149***(0.0257) 0. 1149***(0.0259) 0. 1149***(0.0259) 0.1149***(0.0262) 316.10
 Daka − 0.0365*(0.0208) − 0.0365*(0.0209) − 0.0365*(0.0207) − 0.0365*(0.0209) − 100.40
 Oda − 0.0070(0.0305) − 0.0070(0.0308) − 0.0070(0.0309) − 0.007(0.0310) − 19.25
Sex of sheep sold (male as a base category)  
 Female − 0.1600***(0.0165) − 0.1600***(0.0165)) − 0.1600***(0.0167) − 0.1600***(0.0167) − 440.15
 Age 0.0341***(0.0077) 0.0341***(0.0079) 0.0341***(0.0079) 0.0341***(0.0079) 93.86
Body condition (poor as a base category)  
 Average 0.1038***(0.0169) 0.1038***(0.0169) 0.1038***(0.0170) 0.1038***(0.0178) 285.55
 Good 0.1667***(0.0241) 0.1667***(0.0243) 0.1667***(0.0245) 0.1667***(0.0251) 458.59
Coat colour (red as a base category)  
 White-mixed − 0.0192(0.0148) − 0.0192(0.0149) − 0.0192(0.0152) − 0.0192(0.0155) − 52.82
 Brown − 0.0649*(0.0347) − 0.0649*(0.0349) − 0.0649*(0.0349) − 0.0649*(0.0353) − 178.54
 Others (black) − 0.1256***(0.0113) − 0.1256***(0.0115) − 0.1256***(0.0117) − 0.1256***(0.0121) − 345.52
Tail type of the sheep (Very fat as a base category)  
 Fat tailed − 0.0570***(0.0209) − 0.0570***(0.0212) − 0.0570***(0.0224) − 0.0570***(0.0227) − 156.83
 Thin tailed − 0.0954***(0.0325) − 0.0954***(0.0325) − 0. 0954***(0.0328) − 0. 0954***(0.0331) − 262.44
Horn type (horny as a base category)  
 Hornless 0.0899***(0.0242) 0.0899***(0.0238) 0.0899***(0.0245) 0.0899***(0.0251) 247.31
Purpose of purchase (rearing as a base category)  
 Resale 0.0874(0.0732) 0.0874(0.0736) 0.0874(0.0736) 0.0874(0.0739) 240.44
 Slaughtering (consumption) 0.0963***(0.0412) 0.0963***(0.0415) 0.0963***(0.0418) 0.0963***(0.0424) 264.92
 Religious purpose 0.1161***(0.0269) 0.1161***(0.0271) 0.1161***(0 .0272) 0.1161***(0.0275) 319.38
Buyer type (farmers as a base category)  
 Traders 0.0106(0.0252) 0.0106(0.0234) 0.0106(0.0234) 0.0106(0.0244) 29.16
 Butcher/hotel/restaurants 0.0237(0.02468) 0.0237(0.02471) 0.0237(0.02469) 0.0237(0.02473) 65.19
 Individual consumer 0.0756(0.0745) 0.0756(0.0743) 0.0756(0.0743) 0.0756(0.0749) 207.97
Season of sheep sold (fasting season as a base category)  
 Holidays season 0.1897***(0.0239) 0.1897***(0.0243) 0.1897***(0.0246) 0.1897***(0.0249) 521.86
 Normal time 0.0231(0.0300) 0.0231(0.0308) 0.0231(0.0313) 0.0231(0.0412) 63.55
 Constant 1.6351***(0.0763) 1.6351***(0.0769) 1.6351***(0.0764) 1.6351***(0.0773)
Observations = 300; F(22, 277) = 52.60; Prob > F = 0.0000, R-squared = 0.8069, Adjusted R-squared = 0.7915  
  1. Coef: coefficient; Standard errors in parentheses; IP: implicit price; Average price of the sample: 2750.96ETB/head
  2. ***, **,*Significant at 1%, 5% and 10% level, respectively