Full Professor, Colorado State University
WINNER'S CURSE:

Fully Restricted Results

Restricted s=1,m=3 (mid=1, intercept=theory) (veteran winners) including bankrupt              1
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=1

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  14473062532       .              .           .
Error           60     16206126     270102.1
U Total         60  14489268658

    Root MSE     519.71348     R-square       0.9989
    Dep Mean   14375.93333     Adj R-sq       0.9989
    C.V.           3.61516

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -900.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     118929793  65402185.806         1.818        0.0740
RESTRICT  -1   8136.000000  4025.6832960         2.021        0.0477


Restricted s=1,m=3 (mid=1, intercept=theory) (veteran winners) including bankrupt              2
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=5

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  21087681506       .              .           .
Error           90     18347534 203861.48889
U Total         90  21106029040

    Root MSE     451.51023     R-square       0.9991
    Dep Mean   14145.62222     Adj R-sq       0.9991
    C.V.           3.19187

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -900.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1    -219281661  69788257.865        -3.142        0.0023
RESTRICT  -1        -10810  4283.4021525        -2.524        0.0134


Restricted s=1,m=7 (mid=1, intercept=theory) (veteran winners) including bankrupt              3
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=1

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  15150584081       .              .           .
Error           60    117098767 1951646.1167
U Total         60  15267682848

    Root MSE    1397.01328     R-square       0.9923
    Dep Mean   14969.66667     Adj R-sq       0.9923
    C.V.           9.33229

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1  -1350.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     620457164  179145402.22         3.463        0.0010
RESTRICT  -1         48775  10821.218369         4.507        0.0001


Restricted s=1,m=7 (mid=1, intercept=theory) (veteran winners) including bankrupt              4
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=5

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  14516734225       .              .           .
Error           60     42923582 715393.03333
U Total         60  14559657807

    Root MSE     845.80910     R-square       0.9971
    Dep Mean   14493.41667     Adj R-sq       0.9971
    C.V.           5.83582

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1  -1350.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     339791881  107967238.27         3.147        0.0026
RESTRICT  -1         22334  6551.6091153         3.409        0.0012


Restricted s=5,m=3 (mid=1, intercept=theory) (veteran winners) including bankrupt              5
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=1

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  14385156101       .              .           .
Error           60     63749524 1062492.0667
U Total         60  14448905625

    Root MSE    1030.77256     R-square       0.9956
    Dep Mean   14392.45000     Adj R-sq       0.9956
    C.V.           7.16190

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -327.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1    -200213105  127735794.99        -1.567        0.1223
RESTRICT  -1  -5406.000000  7984.3299030        -0.677        0.5010


Restricted s=5,m=3 (mid=1, intercept=theory) (veteran winners) including bankrupt              6
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=5

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  21562646441       .              .           .
Error           90    115467544 1282972.7111
U Total         90  21678113985

    Root MSE    1132.68385     R-square       0.9947
    Dep Mean   14404.25556     Adj R-sq       0.9947
    C.V.           7.86354

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -327.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     -39190184  169896857.44        -0.231        0.8181
RESTRICT  -1   7782.000000  10745.582534         0.724        0.4708


Restricted s=5,m=7 (mid=1, intercept=theory) (veteran winners) including bankrupt              7
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=1

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  28001363798       .              .           .
Error          115    112567504 978847.86087
U Total        115  28113931302

    Root MSE     989.36740     R-square       0.9960
    Dep Mean   14538.29565     Adj R-sq       0.9960
    C.V.           6.80525

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -535.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     249831169  169420479.01         1.475        0.1430
RESTRICT  -1         28060  10609.783410         2.645        0.0093


Restricted s=5,m=7 (mid=1, intercept=theory) (veteran winners) including bankrupt              8
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=5

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  14671935283       .              .           .
Error           60     69268722    1154478.7
U Total         60  14741204005

    Root MSE    1074.46670     R-square       0.9953
    Dep Mean   14557.31667     Adj R-sq       0.9953
    C.V.           7.38094

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -535.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     323424371  131493127.23         2.460        0.0168
RESTRICT  -1         28816  8322.7833085         3.462        0.0010


Restricted s=1,m=3 (mid=1, intercept=theory) (veteran winners)                                 9
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=1

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  11462099006       .              .           .
Error           46      9237968  200825.3913
U Total         46  11471336974

    Root MSE     448.13546     R-square       0.9992
    Dep Mean   14587.60870     Adj R-sq       0.9992
    C.V.           3.07203

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -900.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1      -2422350  50526270.029        -0.048        0.9620
RESTRICT  -1   -192.000000  3039.4025729        -0.063        0.9499


Restricted s=1,m=3 (mid=1, intercept=theory) (veteran winners)                                10
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=5

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  18330843373       .              .           .
Error           77     15384360 199796.88312
U Total         77  18346227733

    Root MSE     446.98645     R-square       0.9992
    Dep Mean   14253.96104     Adj R-sq       0.9992
    C.V.           3.13588

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -900.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1    -279601861  64663377.468        -4.324        0.0001
RESTRICT  -1        -15330  3922.2901474        -3.908        0.0002


Restricted s=1,m=7 (mid=1, intercept=theory) (veteran winners)                                11
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=1

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0 9658020394.0       .              .           .
Error           34     13619793 400582.14706
U Total         34   9671640187

    Root MSE     632.91559     R-square       0.9986
    Dep Mean   15912.14706     Adj R-sq       0.9986
    C.V.           3.97756

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1  -1350.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     131723916  66130662.502         1.992        0.0545
RESTRICT  -1   7763.000000  3690.5003726         2.104        0.0429


Restricted s=1,m=7 (mid=1, intercept=theory) (veteran winners)                                12
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=5

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0 9948290358.0       .              .           .
Error           39      9040190 231799.74359
U Total         39   9957330548

    Root MSE     481.45586     R-square       0.9991
    Dep Mean   14927.84615     Adj R-sq       0.9991
    C.V.           3.22522

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1  -1350.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1      24382614  51725715.655         0.471        0.6400
RESTRICT  -1    360.000000  3006.6908720         0.120        0.9053


Restricted s=5,m=3 (mid=1, intercept=theory) (veteran winners)                                13
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=1

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  12320518242       .              .           .
Error           49     46817383 955456.79592
U Total         49  12367335625

    Root MSE     977.47470     R-square       0.9962
    Dep Mean   14751.97959     Adj R-sq       0.9962
    C.V.           6.62606

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -327.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1    -232066541  112569412.47        -2.062        0.0446
RESTRICT  -1  -9757.000000  6842.3229243        -1.426        0.1602


Restricted s=5,m=3 (mid=1, intercept=theory) (veteran winners)                                14
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=5

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  20288150589       .              .           .
Error           82    100594922 1226767.3415
U Total         82  20388745511

    Root MSE    1107.59530     R-square       0.9951
    Dep Mean   14686.74390     Adj R-sq       0.9951
    C.V.           7.54146

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -327.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     -78173002  161423742.37        -0.484        0.6295
RESTRICT  -1   3198.000000  10029.701990         0.319        0.7506


Restricted s=5,m=7 (mid=1, intercept=theory) (veteran winners)                                15
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=1

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  22541030237       .              .           .
Error           90     82741221     919346.9
U Total         90  22623771458

    Root MSE     958.82579     R-square       0.9963
    Dep Mean   14730.42222     Adj R-sq       0.9963
    C.V.           6.50915

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -535.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1      88675157  147945234.65         0.599        0.5504
RESTRICT  -1         13055  9096.2201491         1.435        0.1547


Restricted s=5,m=7 (mid=1, intercept=theory) (veteran winners)                                16
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=5

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  12577333042       .              .           .
Error           53     65281738 1231730.9057
U Total         53  12642614780

    Root MSE    1109.83373     R-square       0.9948
    Dep Mean   14251.96226     Adj R-sq       0.9948
    C.V.           7.78723

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -535.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     292416770  125641306.53         2.327        0.0238
RESTRICT  -1         26686  8079.7115048         3.303        0.0017


Restricted s=1,m=3 (mid=1, intercept=theory) (intermediate winners) including bankrupt        17
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=1

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  12753919920       .              .           .
Error           60      9199328 153322.13333
U Total         60  12763119248

    Root MSE     391.56370     R-square       0.9993
    Dep Mean   13714.60000     Adj R-sq       0.9993
    C.V.           2.85509

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -900.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     132531286  46361265.017         2.859        0.0058
RESTRICT  -1   8982.000000  3033.0393997         2.961        0.0044


Restricted s=1,m=3 (mid=1, intercept=theory) (intermediate winners) including bankrupt        18
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=5

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  18886086601       .              .           .
Error           90     29893497 332149.96667
U Total         90  18915980098

    Root MSE     576.32453     R-square       0.9984
    Dep Mean   13647.60000     Adj R-sq       0.9984
    C.V.           4.22290

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -900.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     115924096  83394079.404         1.390        0.1679
RESTRICT  -1         11097  5467.4945816         2.030        0.0453


Restricted s=1,m=7 (mid=1, intercept=theory) (intermediate winners) including bankrupt        19
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=1

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  13197519065       .              .           .
Error           58     82050555 1414664.7414
U Total         58  13279569620

    Root MSE    1189.39680     R-square       0.9938
    Dep Mean   14318.03448     Adj R-sq       0.9938
    C.V.           8.30698

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1  -1350.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     769751322  140761106.65         5.468        0.0001
RESTRICT  -1         49667  9058.1761409         5.483        0.0001


Restricted s=1,m=7 (mid=1, intercept=theory) (intermediate winners) including bankrupt        20
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=5

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  13276362284       .              .           .
Error           60     94915051 1581917.5167
U Total         60  13371277335

    Root MSE    1257.74302     R-square       0.9929
    Dep Mean   14120.98333     Adj R-sq       0.9929
    C.V.           8.90691

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1  -1350.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     792045994  149291604.84         5.305        0.0001
RESTRICT  -1         55739  9742.4355784         5.721        0.0001


Restricted s=5,m=3 (mid=1, intercept=theory) (intermediate winners) including bankrupt        21
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=1

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  17705796830       .              .           .
Error           87     80374586 923845.81609
U Total         87  17786171416

    Root MSE     961.16898     R-square       0.9955
    Dep Mean   13409.28736     Adj R-sq       0.9955
    C.V.           7.16793

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -327.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1    -126071143  131543985.81        -0.958        0.3405
RESTRICT  -1  -7108.000000  8965.1874492        -0.793        0.4300


Restricted s=5,m=3 (mid=1, intercept=theory) (intermediate winners) including bankrupt        22
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=5

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  18882110827       .              .           .
Error           90     75128635 834762.61111
U Total         90  18957239462

    Root MSE     913.65344     R-square       0.9960
    Dep Mean   13657.46667     Adj R-sq       0.9960
    C.V.           6.68977

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -327.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     102090402  127556727.66         0.800        0.4256
RESTRICT  -1         15225  8667.6776013         1.757        0.0824


Restricted s=5,m=7 (mid=1, intercept=theory) (intermediate winners) including bankrupt        23
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=1

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  37906885571       .              .           .
Error          172    243503880 1415720.2326
U Total        172  38150389451

    Root MSE    1189.84042     R-square       0.9936
    Dep Mean   14081.40116     Adj R-sq       0.9936
    C.V.           8.44973

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -535.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1    1027051209  233444007.26         4.400        0.0001
RESTRICT  -1         84298  15604.610857         5.402        0.0001


Restricted s=5,m=7 (mid=1, intercept=theory) (intermediate winners) including bankrupt        24
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=5

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  12518748205       .              .           .
Error           58     59183877 1020411.6724
U Total         58  12577932082

    Root MSE    1010.15428     R-square       0.9953
    Dep Mean   13891.20690     Adj R-sq       0.9953
    C.V.           7.27190

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -535.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1      77105174  116247768.25         0.663        0.5098
RESTRICT  -1         10243  7693.1058097         1.331        0.1882


Restricted s=1,m=3 (mid=1, intercept=theory) (intermediate winners)                           25
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=1

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0 5456281711.0       .              .           .
Error           30      1569555      52318.5
U Total         30   5457851266

    Root MSE     228.73238     R-square       0.9997
    Dep Mean   12695.40000     Adj R-sq       0.9997
    C.V.           1.80169

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -900.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     -49452041  18104622.582        -2.731        0.0105
RESTRICT  -1  -4059.000000  1252.8188217        -3.240        0.0029


Restricted s=1,m=3 (mid=1, intercept=theory) (intermediate winners)                           26
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=5

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  14099630029       .              .           .
Error           63     21509769 341424.90476
U Total         63  14121139798

    Root MSE     584.31576     R-square       0.9985
    Dep Mean   14032.63492     Adj R-sq       0.9985
    C.V.           4.16398

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -900.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     -63494563  73607436.629        -0.863        0.3916
RESTRICT  -1  -2227.000000  4637.8625465        -0.480        0.6328


Restricted s=1,m=7 (mid=1, intercept=theory) (intermediate winners)                           27
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=1

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0 6896468253.0       .              .           .
Error           35     11013122 314660.62857
U Total         35   6907481375

    Root MSE     560.94619     R-square       0.9984
    Dep Mean   13284.54286     Adj R-sq       0.9984
    C.V.           4.22255

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1  -1350.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     190993282  49648201.419         3.847        0.0005
RESTRICT  -1         12006  3318.6024167         3.618        0.0009


Restricted s=1,m=7 (mid=1, intercept=theory) (intermediate winners)                           28
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=5

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0 3575824398.0       .              .           .
Error           19      6838364 359913.89474
U Total         19   3582662762

    Root MSE     599.92824     R-square       0.9981
    Dep Mean   12948.31579     Adj R-sq       0.9981
    C.V.           4.63325

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1  -1350.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1      49264346  38769346.909         1.271        0.2192
RESTRICT  -1   3846.000000  2615.0265773         1.471        0.1577


Restricted s=5,m=3 (mid=1, intercept=theory) (intermediate winners)                           29
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=1

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  16987335554       .              .           .
Error           83     74945862 902962.19277
U Total         83  17062281416

    Root MSE     950.24323     R-square       0.9956
    Dep Mean   13456.72289     Adj R-sq       0.9956
    C.V.           7.06148

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -327.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1    -160333359  127656027.57        -1.256        0.2126
RESTRICT  -1  -9228.000000  8657.1278147        -1.066        0.2895


Restricted s=5,m=3 (mid=1, intercept=theory) (intermediate winners)                           30
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=5

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  15440397984       .              .           .
Error           75     64850782 864677.09333
U Total         75  15505248766

    Root MSE     929.88015     R-square       0.9958
    Dep Mean   13414.88000     Adj R-sq       0.9958
    C.V.           6.93171

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -327.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1      -6338014  118058506.51        -0.054        0.9573
RESTRICT  -1   7174.000000  8052.9983236         0.891        0.3759


Restricted s=5,m=7 (mid=1, intercept=theory) (intermediate winners)                           31
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=1

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  23391889456       .              .           .
Error          110    131704549 1197314.0818
U Total        110  23523594005

    Root MSE    1094.21848     R-square       0.9944
    Dep Mean   13665.28182     Adj R-sq       0.9944
    C.V.           8.00729

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -535.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     300642624  171029157.89         1.758        0.0816
RESTRICT  -1         28187  11476.260236         2.456        0.0156


Restricted s=5,m=7 (mid=1, intercept=theory) (intermediate winners)                           32
                                                              11:21 Thursday, September 24, 1998

GRPSIZE=5

Model: MODEL1
NOTE: Restrictions have been applied to parameter estimates.
NOTE: Restrictions on intercept. R-square is redefined.
Dependent Variable: BID

Analysis of Variance

                         Sum of         Mean
Source          DF      Squares       Square      F Value       Prob>F

Model            0  10039793277       .              .           .
Error           49     43186824  881363.7551
U Total         49  10082980101

    Root MSE     938.80975     R-square       0.9957
    Dep Mean   13494.91837     Adj R-sq       0.9957
    C.V.           6.95676

Parameter Estimates

                 Parameter      Standard    T for H0:
Variable  DF      Estimate         Error   Parameter=0    Prob > |T|

INTERCEP   1   -535.000000    0.00000000          .            .
MID        1      1.000000    0.00000000          .            .
RESTRICT  -1     -39274640  97744055.528        -0.402        0.6896
RESTRICT  -1   4012.000000  6571.6682813         0.610        0.5444
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