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Because most agency people discover several relationship bids, there are numerous findings for every personal. We use private repaired-effects logit models to research exactly how objectives respond to relationship estimates from bidders with assorted properties. An essential advantageous asset of repaired-consequences activities is because they familiarize yourself with merely in this-personal adaptation. Instead of evaluating behavioral designs across the individuals, we could get acquainted with how one reacts to help you now offers out of different bidders. At exactly the same time, fixed-effects habits handle having inherent and you can secure unobserved services including nearest and dearest record (Gelman and you will Hill 2007). While we never completely rule out unobserved heterogeneity one of bidders, i manage in every activities for bidders’ observable attributes. They might be absolutely the values off bidders’ top, pounds, decades, income, and you can studies.