Table 5. Verification of discontinuity...

Table 5.

Verification of discontinuity in winning probability at the 0.95 threshold

	Bidding formula	Estimated discontinuity (robust)			Effective number of observations
	Bidding formula	Coef.	Std. err.	P > z	Left	Right
Market type
Competitive (low $H H I$ ⁠) market	General competitive bidding	−0.0006	0.136	0.996	188	714
Competitive (low $H H I$ ⁠) market	Designated bidding	−0.729	0.258	0.005	318	942
Monopoly market	General competitive bidding	0.178	0.848	0.833	13	14
Monopoly market	Designated bidding	−0.887	0.088	0.000	77	73
High $H H I$ market	General competitive bidding	−0.322	0.395	0.416	77	177
High $H H I$ market	Designated bidding	−0.865	0.131	0.000	194	293
Before and after the Incident
FY 2014–15	General competitive bidding	−0.017	0.096	−0.179	91	219
FY 2014–15	Designated bidding	−0.696	0.119	−5.848	202	403
FY 2017–	General competitive bidding	−0.111	0.086	−1.286	405	658
FY 2017–	Designated bidding	−0.425	0.130	−3.274	811	856

	Bidding formula	Estimated discontinuity (robust)			Effective number of observations
	Bidding formula	Coef.	Std. err.	P > z	Left	Right
Market type
Competitive (low $H H I$ ) market	General competitive bidding	−0.0006	0.136	0.996	188	714
Competitive (low $H H I$ ) market	Designated bidding	−0.729	0.258	0.005	318	942
Monopoly market	General competitive bidding	0.178	0.848	0.833	13	14
Monopoly market	Designated bidding	−0.887	0.088	0.000	77	73
High $H H I$ market	General competitive bidding	−0.322	0.395	0.416	77	177
High $H H I$ market	Designated bidding	−0.865	0.131	0.000	194	293
Before and after the Incident
FY 2014–15	General competitive bidding	−0.017	0.096	−0.179	91	219
FY 2014–15	Designated bidding	−0.696	0.119	−5.848	202	403
FY 2017–	General competitive bidding	−0.111	0.086	−1.286	405	658
FY 2017–	Designated bidding	−0.425	0.130	−3.274	811	856

Note(s):

This is a summary of six estimations that control for the market environment or the time period while accounting for differences in bidding formulas. The estimation procedure, excluding sample restrictions, is the same as in Table 3; the table format is the same as in Table 4

Source(s): Author’s own work

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