Valuation of traits of indigenous sheep using hedonic pricing in CentralEthiopia

Agricultural and Food Economics

Table 3 Estimation results of OLS and Heterosecdasticity consistent hedonicmodel

*ln(price)*	*Coefficient*	*OLS SE*	*HC2 SE*	*HC3 SE*
Constant	5.2350^‡	0.0729	0.0725	0.0812
Age and sex
Age	0.0208^‡	0.0068	0.0067	0.0076
Age square	−0.0003*	0.0001	0.0001	0.0002
Sex	−0.0457	0.0386	0.0346	0.0372
Coat color
White	−0.1003	0.0664	0.0965	0.1098
Brown	0.0158	0.0829	0.0615	0.0696
Black	−0.1614^‡	0.047	0.0488	0.0535
White mixed	0.1305^†	0.0502	0.0515	0.0563
Creamy white	0.0611*	0.0339	0.033	0.0362
Body Size
Medium	0.034	0.0247	0.0247	0.0266
Large	0.1467^‡	0.0414	0.0396	0.0429
Tail condition
Long thin	−0.0831^‡	0.026	0.0236	0.0257
Medium & thin	−0.1225^‡	0.0337	0.0342	0.0373
Medium & fat	0.0319	0.0496	0.0406	0.0454
Season
Season 1	0.0769^‡	0.0226	0.0223	0.0239
Season 3	−0.0275	0.0236	0.025	0.0268
Market/place
Finchaa	−0.0068	0.0309	0.0314	0.0336
G/sanbata	0.0152	0.0306	0.0324	0.0344
Harato	−0.0663^†	0.0286	0.028	0.0303
Type of seller
Farmer	−0.0041	0.0262	0.0267	0.0293
Farmer trader	0.0116	0.0375	0.0356	0.0391
Others	−0.001	0.0417	0.0472	0.0518
Type of buyer
Trader	0.0478	0.028	0.0276	0.0302
Farmer	0.021	0.041	0.039	0.0423
Farmer trader	−0.1042*	0.0506	0.0563	0.0631

‡, † and * significant at α = 0.01,α = 0.05 and α = 0.1 respectively,based on HC₃ standard errors. SE = standarderror.
Number of observations = 195,R² = 0.6887.