\begin{table} %[h] \caption{Probit model of selection into CREP}\label{REG:SELECT_PROBIT} \centering \begin{tabular}{lcc} \tabularnewline \midrule \midrule Dependent Variable: & \multicolumn{2}{c}{Well Enters CREP}\\ Model: & (1) & (2)\\ \midrule \underline{\emph{Variables}}\\ Change in Avg. Water Use (AF) & -0.0050$^{***}$ & \\ & (0.0013) & \\ Pre-Fee pumping (AF/year) & & 0.0049$^{***}$\\ & & (0.0012)\\ Post-Fee Pumping (AF/year) & & -0.0055$^{***}$\\ & & (0.0018)\\ Water Rights (AF) & -0.1928$^{***}$ & -0.1871$^{***}$\\ & (0.0552) & (0.0536)\\ Well Depth (log feet) & 0.1875$^{*}$ & 0.2213$^{**}$\\ & (0.1030) & (0.1068)\\ Potatoes (\%) & -1.267$^{***}$ & -1.257$^{***}$\\ & (0.2452) & (0.2445)\\ Alfalfa (\%) & -0.1998 & -0.1781\\ & (0.1667) & (0.1680)\\ Other Crops (\%) & 0.3271 & 0.3073\\ & (0.2455) & (0.2481)\\ \midrule \underline{\emph{Fixed effects}}\\ Ditch & $\checkmark$ & $\checkmark$\\ \midrule \underline{\emph{Fit statistics}}\\ Observations & 2,149 & 2,149\\ Squared Correlation & 0.14192 & 0.14612\\ Pseudo R$^2$ & 0.20896 & 0.20959\\ BIC & 821.08 & 828.17\\ \midrule \midrule \multicolumn{3}{l}{\emph{Heteroscedasticity-robust standard errors in parentheses}}\\ \multicolumn{3}{l}{\emph{Signif. Codes: ***: 0.01, **: 0.05, *: 0.1}}\\ \midrule \end{tabular} \par \raggedright \hspace{2cm}Pre-Fee pumping rate is the average yearly AF extracted from 2009 to 2010.\\ \hspace{2cm}Post-Fee pumping rate is the average yearly AF extracted from 2011 to 2013.\\ \hspace{3cm}This excludes all years after \ac{CREP} is active (2014-2024)\\ \hspace{2cm}\emph{Change in Avg. Water Use} is calculated by subtracting the Post-Fee variable\\ \hspace{3cm} by the Pre-Fee variable. \end{table}