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st: Why do I get two different results from the same specification and the same dataset?
From
Yuval Arbel <[email protected]>
To
statalist <[email protected]>
Subject
st: Why do I get two different results from the same specification and the same dataset?
Date
Sun, 6 Nov 2011 14:24:19 +0200
Dear statalist participants,
when I run the following regression
reg bid_win dev_cost bid_num year area units min min_price
c.dev_cost#i.min c.bid_num#i.min c.year#i.min c.area#i.min
c.units#i.min
I get the following output:
Source | SS df MS Number of obs = 6802
-------------+------------------------------ F( 12, 6789) = 2891.19
Model | 7.0107e+17 12 5.8423e+16 Prob > F = 0.0000
Residual | 1.3719e+17 6789 2.0207e+13 R-squared = 0.8363
-------------+------------------------------ Adj R-squared = 0.8361
Total | 8.3826e+17 6801 1.2326e+14 Root MSE = 4.5e+06
------------------------------------------------------------------------------
bid_win | Coef. Std. Err. t P>|t| [95% Conf. Interval]
-------------+----------------------------------------------------------------
dev_cost | -.0782451 .1319286 -0.59 0.553 -.3368666 .1803764
bid_num | 53637.98 18087.12 2.97 0.003 18181.54 89094.41
year | 61991.65 44544.85 1.39 0.164 -25330.21 149313.5
area | 204.3705 105.0742 1.95 0.052 -1.607834 410.3488
units | 52691.04 11756.39 4.48 0.000 29644.82 75737.26
min | 1.04e+08 9.74e+07 1.06 0.288 -8.73e+07 2.95e+08
min_price | 3.956053 .0241168 164.04 0.000 3.908777 4.00333
|
min#|
c.dev_cost |
1 | -.460682 .1391518 -3.31 0.001 -.7334631 -.187901
|
min#|
c.bid_num |
1 | -43194.68 19552.09 -2.21 0.027 -81522.9 -4866.457
|
min#c.year |
1 | -51639.35 48543.57 -1.06 0.287 -146800 43521.27
|
min#c.area |
1 | 186.6343 110.1857 1.69 0.090 -29.36416 402.6327
|
min#c.units |
1 | -128569.4 12642.23 -10.17 0.000 -153352.2 -103786.7
|
_cons | -1.25e+08 8.94e+07 -1.39 0.163 -3.00e+08 5.05e+07
------------------------------------------------------------------------------
But when I define directly the interaction variables, and run the
regression, I get different outcomes:
. reg bid_win dev_cost bid_num year area units min min_price
dev_cost_int bid_num_int year_int area_int units_int
Source | SS df MS Number of obs = 6802
-------------+------------------------------ F( 12, 6789) = 2840.90
Model | 6.9905e+17 12 5.8254e+16 Prob > F = 0.0000
Residual | 1.3921e+17 6789 2.0505e+13 R-squared = 0.8339
-------------+------------------------------ Adj R-squared = 0.8336
Total | 8.3826e+17 6801 1.2326e+14 Root MSE = 4.5e+06
------------------------------------------------------------------------------
bid_win | Coef. Std. Err. t P>|t| [95% Conf. Interval]
-------------+----------------------------------------------------------------
dev_cost | .3458744 .1259233 2.75 0.006 .0990254 .5927235
bid_num | 50612.77 18218.04 2.78 0.005 14899.71 86325.84
year | 26138.3 44731.32 0.58 0.559 -61549.1 113825.7
area | 796.392 88.98841 8.95 0.000 621.9468 970.8371
units | -56322.78 4522.886 -12.45 0.000 -65189.06 -47456.51
min | 2.11e+07 9.78e+07 0.22 0.829 -1.71e+08 2.13e+08
min_price | 3.914549 .0241269 162.25 0.000 3.867252 3.961845
dev_cost_int | -.9575921 .1316807 -7.27 0.000 -1.215728 -.6994567
bid_num_int | -40191.13 19694.51 -2.04 0.041 -78798.54 -1583.728
year_int | -10450.87 48755.43 -0.21 0.830 -106026.8 85125.05
area_int | -443.5883 91.15801 -4.87 0.000 -622.2866 -264.89
units_int | -.2338972 .131622 -1.78 0.076 -.4919176 .0241233
_cons | -5.29e+07 8.98e+07 -0.59 0.556 -2.29e+08 1.23e+08
------------------------------------------------------------------------------
My question is why do I get two different results from the same specification?
Just to exemplify: note that the coefficient of "dev_cost" has
modified signs and became significant
--
Dr. Yuval Arbel
School of Business
Carmel Academic Center
4 Shaar Palmer Street, Haifa, Israel
e-mail: [email protected]
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