Equation   3
					restricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  91

        Mean of dep. var. = 5.93565      LM het. test = 7.37159 [.007]
   Std. dev. of dep. var. = 1.12591     Durbin-Watson = 2.26441 [<.928]
 Sum of squared residuals = 43.0344  Jarque-Bera test = 13.8757 [.001]
    Variance of residuals = .489028   Ramsey's RESET2 = 4.31496 [.041]
 Std. error of regression = .699305   F (zero slopes) = 72.6508 [.000]
                R-squared = .628446    Schwarz B.I.C. = 101.817
       Adjusted R-squared = .620001    Log likelihood = -95.0503

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .709774       .045620       15.5585       **  [.000]
 LSUPPLY1  .270307       .211004       1.28105           [.204]
 LSUPPLY2  -.546172E-02  .213028       -.025639          [.980]


					Equation   4
					unrestricted
					============

		Method of estimation = Ordinary Least Squares


 Dependent variable: LPSE
 Number of observations:  91

        Mean of dep. var. = 5.93565      LM het. test = .741346 [.389]
   Std. dev. of dep. var. = 1.12591     Durbin-Watson = 2.45131 [<1.00]
 Sum of squared residuals = 26.5804  Jarque-Bera test = 9.63371 [.008]
    Variance of residuals = .415318   Ramsey's RESET2 = 3.17582 [.080]
 Std. error of regression = .644452   F (zero slopes) = 8.10412 [.000]
                R-squared = .767025    Schwarz B.I.C. = 134.024
       Adjusted R-squared = .672378    Log likelihood = -73.1272

            Estimated    Standard
 Variable  Coefficient     Error       t-statistic       P-value
 LPRICE2   .635555       .063077       10.0759       **  [.000]
 LSUPPLY1  -.039483      .232161       -.170067          [.865]
 LSUPPLY2  .268670       .229573       1.17030           [.246]
 C         .631249       2.17275       .290530           [.772]
 LTNS      -.489251E-02  .164699       -.029706          [.976]
 LSUPPLY1  0.            0.            0.                [1.00]
 FOWNER1   -.086543      .152654       -.566924          [.573]
 FOWNER2   .060650       .069830       .868547           [.388]
 FOWNER3   -.030144      .088161       -.341922          [.734]
 FOWNER4   -.116657      .095339       -1.22360          [.226]
 FOWNER5   -.031670      .042984       -.736799          [.464]
 FDUMMY1   .221286       .144611       1.53022           [.131]
 FDUMMY2   .060584       .083416       .726285           [.470]
 FDUMMY3   -.266191      .101913       -2.61194      *   [.011]
 FDUMMY4   -.017746      .081241       -.218432          [.828]
 FDUMMY5   .044812       .100499       .445892           [.657]
 FDUMMY6   .137133       .091808       1.49370           [.140]
 FDUMMY7   -.275791      .228635       -1.20625          [.232]
 FDUMMY8   -.077483      .074437       -1.04091          [.302]
 FDUMMY9   .053207       .097680       .544709           [.588]
 FDUMMY10  -.042045      .105467       -.398658          [.691]
 FDUMMY11  -.178306      .094686       -1.88313          [.064]
 FDUMMY12  -.305507      .137127       -2.22792      *   [.029]
 FSTAT1    .013396       .048146       .278243           [.782]
 FSTAT2    -.064121      .040533       -1.58196          [.119]
 FSTAT3    -.012186      .026931       -.452482          [.652]
 FSTAT4    .073656       .032073       2.29651       *   [.025]


 F(24,64)  Test Statistic: 1.650749, Upper tail area: .05776