Awarding Price, Contract Performance, and Bids Screening: Evidence from Procurement Auctions

Francesco Decarolis (2014) · American Economic Journal: Applied Economics

Published

October 10, 2026

import sys
from pathlib import Path

ROOT = next(
    p for p in [Path.cwd(), *Path.cwd().parents]
    if (p / "scripts/tranche50_report.py").exists()
)
sys.path.insert(0, str(ROOT / "scripts"))
from tranche50_report import report
report("aeraej-59")

Francesco Decarolis (2014). American Economic Journal: Applied Economics. Table 2.

Source specification

Source coefficient Template on source sample Source N Template source-sample N
13.095 13.095 1262 1262

Source-to-template coefficient difference: 1.6e-14, in original outcome units.

Role Column
Outcome discount
Treatment fpsb_auction
Unit authority_code
Time year
Cluster auth_anno

No additional covariates beyond fixed effects.

Estimates below divide the outcome by its source-sample standard deviation, 7.89132. Static TWFE is the treatment coefficient. Dynamic TWFE, BJS and Sun–Abraham average supported post-treatment cells by observation count. CS-DID additionally reports an equal-event-time average.

Analysis sample and treatment timing

Observations Units Treated Control units Cohorts Clusters
1262 15 1 14 1 101

Adoption is the first observed treated period. Initially treated units and units without an observed minus-one baseline are excluded. Post-adoption untreated rows are excluded for switching policies. The plot shows at most 100 seeded-sample units; estimation uses the full eligible sample. Empty cells remain missing.

y__d: 15 of 15 units shown (seed 20261008). All eligible units enter estimation. Purple: untreated; yellow: treated; white: unobserved.

Estimates

Estimator Estimate (SD) SE 95% lower 95% upper Target Status
Static TWFE 1.6594 0.20394 1.2548 2.064 Coefficient estimated
Dynamic TWFE 1.2787 0.061689 1.1563 1.4011 Treated cells estimated
BJS / did2s 1.6481 0.16754 1.3157 1.9805 Treated cells estimated
Sun–Abraham 1.2787 0.061689 1.1563 1.4011 Treated cells estimated
CS-DID (equal event-time) 1.4026 0.090345 1.2256 1.5797 Equal post-event times estimated
CS-DID (treated cells) 1.2792 0.14857 0.98798 1.5704 Treated cells estimated
SDID 1.4652 nan nan nan Treated cells estimated
Matrix completion 1.493 nan nan nan Treated cells estimated
Horizontal ridge 1.5559 nan nan nan Treated cells estimated
Multisynth (cohort-averaged) nan nan nan nan Treated cells unsupported
Multisynth (individual) nan nan nan nan Treated cells unsupported

Intervals use the configured clusters and the estimator’s available inference. Hollow points have no computed interval; no new refit-bootstrap batch is run.

Estimator Reason
Multisynth (cohort-averaged) multisynth-cohort: requires one observation per unit-period; no observations collapsed.
Multisynth (individual) multisynth-individual: requires one observation per unit-period; no observations collapsed.

Event studies

Cohort homogeneity

The imported TestingInEventStudies deviations design tests positive-event-time cohort deviations jointly. This is the homoskedastic nested-model F-test; the estimator confidence intervals above use clustered inference.

**y__d: homogeneity test not identified.** Only one treated cohort remains on the common supported sample.

Fitting settings and checks

Specification Estimator Settings Pooling
y__d CS-DID {“est_method”: “dr”, “covariate_basis”: “intercept”, “control_group”: “notyettreated”, “xformla”: “y ~ 1”, “panel”: false, “effective_panel”: false, “allow_unbalanced_panel”: true, “weights_name”: “weight”, “fix_weights”: null, “base_period”: “universal”, “clustervar”: “cluster”, “aggregate”: “dynamic”, “faster_mode”: true} {}
y__d SDID {} {“parameter”: null, “value”: null, “status”: “not_applicable”, “fit_scope”: “Separate adoption-cohort fits”, “within_cohort_target”: “Mean treated outcome history”, “cross_cohort_partial_pooling”: false, “shared_structure”: null, “note”: “Regularization penalties are not partial-pooling parameters.”}
y__d Matrix completion {“lambda_fraction”: 0.25, “max_iterations”: 1000, “tolerance”: 1e-12} {“parameter”: null, “value”: null, “status”: “not_applicable”, “fit_scope”: “Joint untreated-cell fit”, “within_cohort_target”: null, “cross_cohort_partial_pooling”: false, “shared_structure”: “Low-rank matrix and unit/time effects”, “note”: “Regularization penalties are not partial-pooling parameters.”}
y__d Horizontal ridge {“penalty”: 1.0} {“parameter”: null, “value”: null, “status”: “not_applicable”, “fit_scope”: “Separate adoption-cohort fits”, “within_cohort_target”: “Mean treated outcome history”, “cross_cohort_partial_pooling”: false, “shared_structure”: null, “note”: “Regularization penalties are not partial-pooling parameters.”}
y__d Multisynth (cohort-averaged) {} {}
y__d Multisynth (individual) {} {}
{
  "did2s_vs_direct_imputation_max_post_difference": 4.440892098500626e-16,
  "package_aggregate_vs_estimable_cell_weights": 0.0
}