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