  Full Professor, Colorado State University  WINNER'S CURSE: Prototype Web Bidding System SAS Statements SAS Results SAS Experimental Design Alternative Model SAS statements TEST 3 SAS TEST_3_OUTPUT Main SAS Statements Group Incentive System Mid=1 and Intercept=theory Mid=1 Intercept=theory return  Current Test_2 SAS File ```%include 'd:\projects\cva\sas\cva_data.sas'; data five; set main; if win=1; if xprnc=3; if market=3 or market=7; /* This was defined in the cva_data file, but included here for clarity if sigsize = 1 then high = signal; if sigsize = 1 then low = signal; theta=1800; mid=high-((high-low)/2); range=high-low; if sigsize = 5 and market = 3 then discount = ((theta - (range/2))/2); if sigsize = 5 and market = 5 then discount = (((theta - (range/2))/3)*2); if sigsize = 5 and market = 7 then discount = (((theta - (range/2))/4)*3); if sigsize = 1 and market = 3 then discount = 900; if sigsize = 1 and market = 5 then discount = 1200; if sigsize = 1 and market = 7 then discount = 1350; if sigsize = 5 and market = 3 then bid_y = bid - (range/4); if sigsize = 5 and market = 5 then bid_y = bid - (range/3); if sigsize = 5 and market = 7 then bid_y = bid - (3*range/8); if sigsize = 1 and market = 3 then bid_y = bid; if sigsize = 1 and market = 5 then bid_y = bid; if sigsize = 1 and market = 7 then bid_y = bid; predict = mid - discount; diff=bid-predict; vet_diff=bid-mid; */ proc sort; by grpsize sigsize market; proc glm; model bid_y = mid; by grpsize sigsize market; title 'OLS of bid by mid and range (veteran winners) including bankrupt'; data; set five; if sigsize=1 and market=3; z=1; y=bid_y-mid; proc reg; model y = z / noint; by grpsize; title 'Restricted regression of bid_y = mid (veteran winners) including bankrupt'; data; set five; if sigsize=1 and market=7; proc reg; model bid_y = mid; restrict mid=1,intercept=-1350; by grpsize; title 'Restricted regression of bid_y = mid (veteran winners) including bankrupt'; data; set five; if sigsize=5 and market=3; proc reg; model bid_y = mid; restrict mid=1,intercept=-327; by grpsize; title 'Restricted regression of bid_y = mid (veteran winners) including bankrupt'; data; set five; if sigsize=5 and market=7; proc reg; model bid_y = mid; restrict mid=1,intercept=-535; by grpsize; title 'Restricted regression of bid_y = mid (veteran winners) including bankrupt'; data five_a; set five; /* deleting all veteran bankrupt bidders from the point they went bankrupt onwards */ if (market=7 and grpsize=1 and sigsize=1 and xprnc=3 and session=1 and entity=6 and period>9) then delete; if (market=7 and grpsize=1 and sigsize=1 and xprnc=3 and session=2 and entity=2 and period>7) then delete; if (market=7 and grpsize=5 and sigsize=1 and xprnc=3 and session=2 and entity=4 and period>8) then delete; if (market=7 and grpsize=1 and sigsize=1 and xprnc=3 and session=1 and entity=4 and period>10) then delete; if (market=3 and grpsize=1 and sigsize=1 and xprnc=3 and session=1 and entity=2 and period>5) then delete; if (market=3 and grpsize=5 and sigsize=5 and xprnc=3 and session=1 and entity=2 and period>6) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=3 and session=1 and entity=1 and period>0) then delete; if (market=7 and grpsize=1 and sigsize=1 and xprnc=3 and session=1 and entity=0 and period>8) then delete; if (market=3 and grpsize=1 and sigsize=5 and xprnc=3 and session=5 and entity=1 and period>6) then delete; if (market=7 and grpsize=5 and sigsize=1 and xprnc=3 and session=2 and entity=0 and period>17) then delete; if (market=3 and grpsize=5 and sigsize=1 and xprnc=3 and session=3 and entity=2 and period>3) then delete; if (market=7 and grpsize=5 and sigsize=5 and xprnc=3 and session=2 and entity=6 and period>20) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=3 and session=3 and entity=1 and period>8) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=3 and session=1 and entity=5 and period>12) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=3 and session=1 and entity=0 and period>5) then delete; if (market=7 and grpsize=5 and sigsize=5 and xprnc=3 and session=2 and entity=1 and period>4) then delete; if (market=7 and grpsize=5 and sigsize=1 and xprnc=3 and session=1 and entity=6 and period>28) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=3 and session=3 and entity=6 and period>16) then delete; if (market=7 and grpsize=5 and sigsize=1 and xprnc=3 and session=1 and entity=0 and period>8) then delete; if (market=3 and grpsize=1 and sigsize=5 and xprnc=3 and session=5 and entity=0 and period>21) then delete; proc sort; by grpsize sigsize market; proc glm; model bid_y = mid; by grpsize sigsize market; title 'OLS of bid by mid and range (veteran winners)'; data; set five_a; if sigsize=1 and market=3; proc reg; model bid_y = mid; restrict mid=1,intercept=-900; by grpsize; title 'Restricted regression of bid_y = mid (veteran winners)'; data; set five_a; if sigsize=1 and market=7; proc reg; model bid_y = mid; restrict mid=1,intercept=-1350; by grpsize; title 'Restricted regression of bid_y = mid (veteran winners)'; data; set five_a; if sigsize=5 and market=3; proc reg; model bid_y = mid; restrict mid=1,intercept=-327; by grpsize; title 'Restricted regression of bid_y = mid (veteran winners)'; data; set five_a; if sigsize=5 and market=7; proc reg; model bid_y = mid; restrict mid=1,intercept=-535; by grpsize; title 'Restricted regression of bid_y = mid (veteran winners)'; data six; set main; if win=1; if xprnc=2; if market=3 or market=7; proc sort; by grpsize sigsize market; proc glm; model bid_y = mid; by grpsize sigsize market; title 'OLS of bid by mid and range (intermediate winners) including bankrupt'; data; set six; if sigsize=1 and market=3; proc reg; model bid_y = mid; restrict mid=1,intercept=-900; by grpsize; title 'Restricted regression of bid_y = mid (intermediate winners) including bankrupt'; data; set six; if sigsize=1 and market=7; proc reg; model bid_y = mid; restrict mid=1,intercept=-1350; by grpsize; title 'Restricted regression of bid_y = mid (intermediate winners) including bankrupt'; data; set six; if sigsize=5 and market=3; proc reg; model bid_y = mid; restrict mid=1,intercept=-327; by grpsize; title 'Restricted regression of bid_y = mid (intermediate winners) including bankrupt'; data; set six; if sigsize=5 and market=7; proc reg; model bid_y = mid; restrict mid=1,intercept=-535; by grpsize; title 'Restricted regression of bid_y = mid (intermediate winners) including bankrupt'; data six_a; set six; /* deleting all intermediate bankrupt bidders from the point they went bankrupt onwards */ if (market=7 and grpsize=1 and sigsize=5 and xprnc=2 and session=2 and entity=2 and period>2) then delete; if (market=7 and grpsize=1 and sigsize=1 and xprnc=2 and session=2 and entity=5 and period>0) then delete; if (market=3 and grpsize=1 and sigsize=5 and xprnc=2 and session=5 and entity=2 and period>26) then delete; if (market=5 and grpsize=5 and sigsize=5 and xprnc=2 and session=1 and entity=3 and period>18) then delete; if (market=7 and grpsize=5 and sigsize=1 and xprnc=2 and session=2 and entity=4 and period>2) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=2 and session=4 and entity=6 and period>20) then delete; if (market=7 and grpsize=1 and sigsize=1 and xprnc=2 and session=2 and entity=1 and period>4) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=2 and session=1 and entity=3 and period>2) then delete; if (market=7 and grpsize=5 and sigsize=5 and xprnc=2 and session=1 and entity=5 and period>5) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=2 and session=4 and entity=0 and period>3) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=2 and session=2 and entity=4 and period>9) then delete; if (market=7 and grpsize=5 and sigsize=1 and xprnc=2 and session=1 and entity=0 and period>5) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=2 and session=4 and entity=2 and period>15) then delete; if (market=7 and grpsize=5 and sigsize=1 and xprnc=2 and session=2 and entity=0 and period>3) then delete; if (market=7 and grpsize=5 and sigsize=5 and xprnc=2 and session=1 and entity=3 and period>24) then delete; if (market=3 and grpsize=5 and sigsize=1 and xprnc=2 and session=2 and entity=2 and period>0) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=2 and session=2 and entity=3 and period>21) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=2 and session=6 and entity=6 and period>7) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=2 and session=6 and entity=4 and period>2) then delete; if (market=7 and grpsize=1 and sigsize=1 and xprnc=2 and session=4 and entity=3 and period>7) then delete; if (market=7 and grpsize=5 and sigsize=5 and xprnc=2 and session=2 and entity=5 and period>13) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=2 and session=5 and entity=2 and period>8) then delete; if (market=3 and grpsize=5 and sigsize=5 and xprnc=2 and session=3 and entity=2 and period>20) then delete; if (market=7 and grpsize=5 and sigsize=1 and xprnc=2 and session=1 and entity=2 and period>0) then delete; if (market=3 and grpsize=1 and sigsize=1 and xprnc=2 and session=2 and entity=0 and period>5) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=2 and session=5 and entity=5 and period>13) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=2 and session=1 and entity=5 and period>13) then delete; if (market=3 and grpsize=1 and sigsize=5 and xprnc=2 and session=5 and entity=0 and period>20) then delete; if (market=3 and grpsize=5 and sigsize=1 and xprnc=2 and session=1 and entity=2 and period>0) then delete; if (market=3 and grpsize=1 and sigsize=1 and xprnc=2 and session=1 and entity=1 and period>4) then delete; if (market=7 and grpsize=5 and sigsize=1 and xprnc=2 and session=1 and entity=6 and period>7) then delete; if (market=3 and grpsize=5 and sigsize=5 and xprnc=2 and session=1 and entity=2 and period>4) then delete; if (market=3 and grpsize=5 and sigsize=1 and xprnc=2 and session=3 and entity=2 and period>2) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=2 and session=3 and entity=2 and period>8) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=2 and session=4 and entity=5 and period>6) then delete; if (market=7 and grpsize=1 and sigsize=5 and xprnc=2 and session=3 and entity=3 and period>14) then delete; if (market=7 and grpsize=1 and sigsize=1 and xprnc=2 and session=1 and entity=6 and period>16) then delete; if (market=5 and grpsize=5 and sigsize=5 and xprnc=2 and session=1 and entity=4 and period>26) then delete; proc sort; by grpsize sigsize market; proc glm; model bid_y = mid; by grpsize sigsize market; title 'OLS of bid by mid and range (intermediate winners)'; data; set six_a; if sigsize=1 and market=3; proc reg; model bid_y = mid; restrict mid=1,intercept=-900; by grpsize; title 'Restricted regression of bid_y = mid (intermediate winners)'; data; set six_a; if sigsize=1 and market=7; proc reg; model bid_y = mid; restrict mid=1,intercept=-1350; by grpsize; title 'Restricted regression of bid_y = mid (intermediate winners)'; data; set six_a; if sigsize=5 and market=3; proc reg; model bid_y = mid; restrict mid=1,intercept=-327; by grpsize; title 'Restricted regression of bid_y = mid (intermediate winners)'; data; set six_a; if sigsize=5 and market=7; proc reg; model bid_y = mid; restrict mid=1,intercept=-535; by grpsize; title 'Restricted regression of bid_y = mid (intermediate winners)'; run; quit; ``` CIS Dept |  College Of Business |  Colorado State University |  Aviation |  Home Page
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