Table 3.
Estimation results from logit, ridge and LASSO classifiers.
| Model name | Logit classifier | Ridge classifier | LASSO | |
|---|---|---|---|---|
| Variable name | Estimates | Std. error | Estimates | Estimates |
| Dep. variable: Respondent has an earthquake insurance | ||||
| Socio-demographics | ||||
| Age | −0.037*** | 0.010 | −0.008 | −0.024 |
| Square of age | 0.000*** | 0.000 | 0.000 | 0.000 |
| Gender of respondent | 0.173*** | 0.059 | 0.186 | 0.186 |
| Ethnicity: Hispanic | 0.289** | 0.114 | 0.410 | 0.422 |
| Race: African American or Black | −0.113 | 0.186 | −0.115 | −0.087 |
| Race: American Indian | −0.077 | 0.103 | −0.051 | −0.041 |
| Race: Asian | 0.850*** | 0.171 | 0.854 | 0.922 |
| Belongs to two or more races | 0.463*** | 0.142 | 0.330 | 0.319 |
| Democrat | −0.795*** | 0.078 | −0.721 | −0.844 |
| Republican | 0.012 | 0.068 | 0.070 | 0.004 |
| Years lived in Oklahoma | 0.016*** | 0.003 | 0.021 | 0.021 |
| Rents the property | -1.061*** | 0.068 | −0.952 | −1.039 |
| Education: high school | 0.098 | 0.117 | 0.077 | 0.006 |
| Education: associate degree | 0.682*** | 0.120 | 0.416 | 0.536 |
| Education: undergraduate degree | 0.859*** | 0.119 | 0.609 | 0.727 |
| Education: graduate degree | 0.724*** | 0.135 | 0.557 | 0.689 |
| Inc$25000_$49,999 | 0.769*** | 0.087 | 0.686 | 0.837 |
| Inc$50000_$74,999 | 0.917*** | 0.091 | 0.763 | 0.936 |
| Inc$75000_$99,999 | 0.219* | 0.113 | 0.146 | 0.271 |
| Inc$100000_$124,999 | 0.555*** | 0.124 | 0.326 | 0.454 |
| Inc$125000_above | 0.519*** | 0.135 | 0.375 | 0.510 |
| Respondents’ attitudes toward earthquakes in Oklahoma | ||||
| Earthquake-related damage is minor | −0.035 | 0.069 | −0.086 | −0.092 |
| Earthquake-related damage is moderate | 0.929*** | 0.132 | 0.860 | 0.883 |
| Earthquake-related damage is major | −0.221 | 0.187 | −0.381 | −0.354 |
| Other earthquake-related damage | 0.582** | 0.282 | 0.503 | 0.579 |
| Abrupt stoppage of wastewater injection | −0.124 | 0.127 | −0.029 | −0.013 |
| Believes wastewater injection be stopped following science | −0.014 | 0.121 | 0.078 | 0.105 |
| Source of revenue to Oklahoma is the oil and gas industry | −0.662 | 0.073 | −0.559 | −0.625 |
| Source of jobs in Oklahoma is the oil and gas industry | 0.367 | 0.084 | 0.281 | 0.330 |
| Dep. Variable: Respondent has an earthquake insurance | ||||
| Respondents’ attitudes toward earthquakes in Oklahoma | ||||
| Earthquake-related safety concern | 0.371*** | 0.059 | 0.253 | 0.281 |
| State should regulate environmental quality | 0.127* | 0.071 | 0.086 | 0.090 |
| Oil and gas companies at residential property | 0.433*** | 0.038 | 0.481 | 0.507 |
| Works in the oil and gas industry | 0.416*** | 0.073 | 0.401 | 0.416 |
| Revenue from oil and gas leases | 0.431*** | 0.071 | 0.396 | 0.396 |
| Expects to work in oil and gas companies one day | 0.402*** | 0.101 | 0.498 | 0.493 |
| Has experienced earthquakes in the past | 0.009 | 0.066 | 0.036 | 0.013 |
| Wastewater injection is responsible for earthquakes in Oklahoma | 0.014 | 0.062 | 0.024 | 0.007 |
| Intercept | −2.140*** | 0.289 | ||
| Model fit diagnostics | ||||
| Akaike Information Criterion | 7,199 | |||
| Deviance | 7,120 | 7,139 | 7,121 | |
| Lambda | 0.0066 | 0.0003 | ||
***, **, *Statistical significance at 1%, 5% and 10% level.