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Table 3 Adaptive expectations – OLS estimates - equation in first differences

From: Do carrier expectations indicate industry structure in container shipping? An econometric analysis

SeriesConstantVtKt − 4ShocksWald TestBreusch – GodfreyAdj R-SquaredF-Statistic
Full Sample N = 75
 All Trades0.002 (0.044)0.305c (3.99)0.470c (5.20)−0.0003 (− 0.020)82.3c0.024 (Pr = 0.876)0.5835.06c
 ETP−0.001 (− 0.26)0.604c (8.17)0.151a (1.75)−0.007 (− 0.43)50.4c0.010Pr = 0.91940.6752.08c
 WTA0.008 (1.14)0.067 (1.06)0.421c (4.07)−0.037b (−2.03)168.3c.0901 (Pr = 0.764)0.228.03c
Pre-Block Exemption (WTA, N = 41)
 WTA0.006 (0.66)−0.021 (− 0.27)0.422b (2.98)− 0.041 (−1.49)167.6c0.002 (Pr = 0.967)0.163.45b
Post-Block Exemption (WTA, N = 29)
 WTA0.010 (0.88)0.232 (1.84)a0.371 (2.19)b−0.060 (− 0.99)37.12c0.209 (Pr = 0.647)0.223.65b
  1. aSignificant at the 10% level, bsignificant at the 5% level, csignificant at the 1% level