updates on peer effect

Average effect

Sample Size

• Number of stores

length(unique(peer_effect_with_manager_update$storekey))

[1] 1051

• Number of unique employees

length(unique(peer_effect_with_manager_update$focalemployee))

[1] 83450

Tipping

• OLS

summary(peer_ols_effect_AvgTip_lag_withmanager_update)$coefficients

                   Estimate  Std. Error   t value     Pr(>|t|)
avg_peerAvgTip -0.008936603 0.001139159 -7.844911 4.333776e-15

• IV

summary(peer_iv_effect_AvgTip_lag_withmanager_update)$coefficients

                        Estimate  Std. Error  t value     Pr(>|t|)
`avg_peerAvgTip(fit)` 0.04294901 0.007788008 5.514762 3.492752e-08

Stealcnt

• OLS

summary(peer_ols_effect_stealcnt_lag_withmanager_update)$coefficients

                                      Estimate   Std. Error   t value     Pr(>|t|)
log(avg_peerTotalStealCnt + 1)    -0.040777710 0.0029564400 -13.79284 2.821556e-43
log(avg_peerTotalStealAmount + 1)  0.004923882 0.0007960362   6.18550 6.191245e-10

• OLS without log transformation

summary(peer_ols_effect_stealcnt_lag_withmanage_update_wtlog)$coefficients

                              Estimate   Std. Error     t value     Pr(>|t|)
avg_peerTotalStealCnt    -0.0160980698 1.097625e-03 -14.6662786 1.063407e-48
avg_peerTotalStealAmount  0.0000147503 1.715657e-05   0.8597463 3.899290e-01

• IV

summary(peer_iv_effect_stealcnt_lag_withmanager_update)$coefficients

                                           Estimate  Std. Error  t value     Pr(>|t|)
`log(avg_peerTotalStealCnt + 1)(fit)`    0.13795899 0.027973994 4.931687 8.152589e-07
`log(avg_peerTotalStealAmount + 1)(fit)` 0.01539514 0.003201427 4.808835 1.518183e-06

• IV without log transformation

summary(peer_iv_effect_stealcnt_lag_withmanager_update_wtlog)$coefficients

                                    Estimate   Std. Error t value     Pr(>|t|)
`avg_peerTotalStealCnt(fit)`    0.0563518698 1.192216e-02 4.72665 2.282632e-06
`avg_peerTotalStealAmount(fit)` 0.0005980154 9.417268e-05 6.35020 2.150602e-10

Stealamt

• OLS

summary(peer_ols_effect_stealamt_lag_withmanager_update)$coefficients

                                     Estimate Std. Error    t value     Pr(>|t|)
log(avg_peerTotalStealAmount + 1) -0.20746073 0.03087731 -6.7188734 1.831616e-11
log(avg_peerTotalStealCnt + 1)     0.01732608 0.11467684  0.1510862 8.799078e-01

• OLS without log transformation

summary(peer_ols_effect_stealamt_lag_withmanager_wtlog)$coefficients

                            Estimate   Std. Error    t value     Pr(>|t|)
avg_peerTotalStealAmount -0.01207570 0.0006656213 -18.141994 1.496534e-73
avg_peerTotalStealCnt    -0.07310905 0.0425844070  -1.716803 8.601519e-02

• IV

summary(peer_iv_effect_stealamt_lag_withmanager_update)$coefficients

                                           Estimate Std. Error    t value    Pr(>|t|)
`log(avg_peerTotalStealAmount + 1)(fit)` -0.6919844  0.1240731 -5.5772327 2.44392e-08
`log(avg_peerTotalStealCnt + 1)(fit)`     0.6850004  1.0841475  0.6318331 5.27496e-01

• IV without log transformation

summary(peer_iv_effect_stealamt_lag_withmanager_update_wtlog)$coefficients

                                   Estimate  Std. Error     t value     Pr(>|t|)
`avg_peerTotalStealAmount(fit)` -0.04171673 0.003648274 -11.4346507 2.809977e-30
`avg_peerTotalStealCnt(fit)`     0.19262848 0.461867486   0.4170644 6.766313e-01

Familiar VS Unfamiliar

Tipping

• OLS

summary(peer_ols_AvgTip_top_common_2weeks_withmanagers_update)$coefficients

                       Estimate   Std. Error   t value     Pr(>|t|)
toptargetAvgTip     0.009559141 0.0008224346  11.62298 3.155014e-31
commontargetAvgTip -0.023815893 0.0012290618 -19.37729 1.215997e-83

• IV

summary(peer_iv_AvgTip_top_common_2weeks_withmanagers_update)$coefficients

                            Estimate  Std. Error  t value     Pr(>|t|)
`toptargetAvgTip(fit)`    0.09967400 0.012318780 8.091223 5.909296e-16
`commontargetAvgTip(fit)` 0.02101526 0.008593765 2.445407 1.446892e-02

Stealcnt

• OLS

summary(peer_ols_stealcnt_top_common_2weeks_withmanagers_update)$coefficients

                                        Estimate  Std. Error    t value     Pr(>|t|)
log(toptargetTotalStealCount + 1)    -0.02086466 0.002397026  -8.704395 3.194511e-18
log(commontargetTotalStealCount + 1) -0.03353283 0.003096388 -10.829660 2.494053e-27

• OLS without log

summary(peer_ols_stealcnt_top_common_2weeks_withmanagers_update_wtlog)$coefficients

                               Estimate   Std. Error   t value     Pr(>|t|)
toptargetTotalStealCount    -0.01084264 0.0005790099 -18.72618 3.064116e-78
commontargetTotalStealCount -0.01784623 0.0011568790 -15.42619 1.097129e-53

• IV

summary(peer_iv_stealcnt_top_common_2weeks_withmanagers_update)$coefficients

                                              Estimate Std. Error  t value     Pr(>|t|)
`log(toptargetTotalStealCount + 1)(fit)`    0.04776667 0.02008991 2.377644 1.742369e-02
`log(commontargetTotalStealCount + 1)(fit)` 0.20398135 0.03226359 6.322339 2.576742e-10

• IV withoutlog

summary(peer_iv_stealcnt_top_common_2weeks_withmanagers_update_wtlog)$coefficients

                                     Estimate  Std. Error  t value     Pr(>|t|)
`toptargetTotalStealCount(fit)`    0.01045081 0.006720246 1.555124 1.199167e-01
`commontargetTotalStealCount(fit)` 0.08803350 0.014990712 5.872537 4.292278e-09

StealAmt

• OLS

summary(peer_ols_stealamt_top_common_2weeks_withmanagers_update)$coefficients

                                        Estimate Std. Error   t value     Pr(>|t|)
log(toptargetTotalStealAmount + 1)    -0.2616647 0.03118576 -8.390517 4.842406e-17
log(commontargetTotalStealAmount + 1) -0.1521120 0.03404940 -4.467392 7.918221e-06

• OLS without log

summary(peer_ols_stealamt_top_common_2weeks_withmanagers_update_wtlog)$coefficients

                                Estimate   Std. Error   t value      Pr(>|t|)
toptargetTotalStealAmount    -0.01386316 0.0005562434 -24.92284 4.363974e-137
commontargetTotalStealAmount -0.01539690 0.0007082253 -21.74011 8.751413e-105

• IV

summary(peer_iv_stealamt_top_common_2weeks_withmanagers_update)$coefficients

                                               Estimate Std. Error   t value     Pr(>|t|)
`log(toptargetTotalStealAmount + 1)(fit)`    -0.3948857  0.1180703 -3.344496 8.243330e-04
`log(commontargetTotalStealAmount + 1)(fit)` -1.0237301  0.1479117 -6.921226 4.478515e-12

• IV without log

summary(peer_iv_stealamt_top_common_2weeks_withmanagers_update_wtlog)$coefficients

                                       Estimate  Std. Error   t value     Pr(>|t|)
`toptargetTotalStealAmount(fit)`    -0.02559452 0.002415244 -10.59708 3.078097e-26
`commontargetTotalStealAmount(fit)` -0.04854731 0.004542902 -10.68641 1.179908e-26

Before and After policy change

Tipping

• Before

summary(peer_iv_AvgTip_top_common_2weeks_withmanagers_beforeguard_update)$coefficients

                            Estimate Std. Error   t value     Pr(>|t|)
`toptargetAvgTip(fit)`    0.11753114 0.03015566 3.8974823 9.720969e-05
`commontargetAvgTip(fit)` 0.01395506 0.02067830 0.6748648 4.997620e-01

• After

summary(peer_iv_AvgTip_top_common_2weeks_withmanagers_afterguard_update)$coefficients

                              Estimate  Std. Error   t value     Pr(>|t|)
`toptargetAvgTip(fit)`    -0.011874119 0.003339149 -3.556031 0.0003765077
`commontargetAvgTip(fit)` -0.009649416 0.003833373 -2.517213 0.0118288030

Stealcnt

• Before

summary(peer_iv_stealcnt_top_common_2weeks_withmanagers_beforeguard_update)$coefficients

                                               Estimate Std. Error   t value     Pr(>|t|)
`log(toptargetTotalStealCount + 1)(fit)`    0.005494373 0.04089237 0.1343618 8.931165e-01
`log(commontargetTotalStealCount + 1)(fit)` 0.353821854 0.06436647 5.4969904 3.865021e-08

• After

summary(peer_iv_stealcnt_top_common_2weeks_withmanagers_afterguard_update)$coefficients

                                             Estimate Std. Error  t value     Pr(>|t|)
`log(toptargetTotalStealCount + 1)(fit)`    0.0951350 0.02339850 4.065859 4.785762e-05
`log(commontargetTotalStealCount + 1)(fit)` 0.1416929 0.03618075 3.916252 8.993911e-05

Stealamt

• Before

summary(peer_iv_stealamt_top_common_2weeks_withmanagers_beforeguard_update)$coefficients

                                               Estimate Std. Error   t value     Pr(>|t|)
`log(toptargetTotalStealAmount + 1)(fit)`    -0.5073025  0.2816252 -1.801339 7.165003e-02
`log(commontargetTotalStealAmount + 1)(fit)` -1.5923416  0.3803787 -4.186201 2.837076e-05

• After

summary(peer_iv_stealamt_top_common_2weeks_withmanagers_afterguard_update)$coefficients

                                               Estimate Std. Error   t value     Pr(>|t|)
`log(toptargetTotalStealAmount + 1)(fit)`    -0.2824290 0.07905658 -3.572492 3.536079e-04
`log(commontargetTotalStealAmount + 1)(fit)` -0.4241754 0.08770957 -4.836135 1.323973e-06

Star VS Normal in Tipping

• Tipping

summary(peer_iv_AvgTip_star_normal_in_tip_withmanagers_update)$coefficients

                            Estimate  Std. Error  t value     Pr(>|t|)
`startargetAvgTip(fit)`   0.01464348 0.002665847 5.492993 3.952044e-08
`normaltargetAvgTip(fit)` 0.06594113 0.016473999 4.002740 6.261446e-05

• Tipping Before guard

summary(peer_iv_AvgTip_star_normal_in_tip_withmanagers_update_beforeguard)$coefficients

                             Estimate  Std. Error   t value    Pr(>|t|)
`startargetAvgTip(fit)`   0.004263119 0.007549862 0.5646618 0.572303979
`normaltargetAvgTip(fit)` 0.185183761 0.067635572 2.7379640 0.006182243

• Tipping after guard

summary(peer_iv_AvgTip_star_normal_in_tip_withmanagers_update_afterguard)$coefficients

                             Estimate   Std. Error   t value      Pr(>|t|)
`startargetAvgTip(fit)`    0.02910800 0.0009721815 29.940914 6.188528e-197
`normaltargetAvgTip(fit)` -0.01203243 0.0024704311 -4.870579  1.112773e-06

• Stealcnt

summary(peer_iv_stealcnt_star_normal_in_tip_withmanagers_update)$coefficients

                                            Estimate Std. Error  t value     Pr(>|t|)
`log(startargetTotalStealCnt + 1)(fit)`   0.28902357 0.02480296 11.65278 2.223674e-31
`log(normaltargetTotalStealCnt + 1)(fit)` 0.07410286 0.02281675  3.24774 1.163266e-03

• Stealcnt before guard

summary(peer_iv_stealcnt_star_normal_in_tip_withmanagers_update_beforeguard)$coefficients

                                             Estimate Std. Error    t value     Pr(>|t|)
`log(startargetTotalStealCnt + 1)(fit)`    0.65169107 0.09048374  7.2023005 5.926497e-13
`log(normaltargetTotalStealCnt + 1)(fit)` -0.02341875 0.04671584 -0.5013021 6.161587e-01

• Stealcnt after guard

summary(peer_iv_stealcnt_star_normal_in_tip_withmanagers_update_afterguard)$coefficients

                                           Estimate Std. Error  t value     Pr(>|t|)
`log(startargetTotalStealCnt + 1)(fit)`   0.1771387 0.02200845 8.048669 8.373015e-16
`log(normaltargetTotalStealCnt + 1)(fit)` 0.1525509 0.02724972 5.598257 2.165371e-08

• Stealamt

summary(peer_iv_stealamt_star_normal_in_tip_withmanagers_update)$coefficients

                                               Estimate Std. Error   t value     Pr(>|t|)
`log(startargetTotalStealAmount + 1)(fit)`    0.6210325  0.2952493  2.103417 3.542937e-02
`log(normaltargetTotalStealAmount + 1)(fit)` -0.8369197  0.1075564 -7.781214 7.185080e-15

• Stealamt before guard

summary(peer_iv_stealamt_star_normal_in_tip_withmanagers_update_beforeguard)$coefficients

                                               Estimate Std. Error    t value     Pr(>|t|)
`log(startargetTotalStealAmount + 1)(fit)`   -0.9831219  1.2098776 -0.8125796 0.4164593984
`log(normaltargetTotalStealAmount + 1)(fit)` -1.2120801  0.3158574 -3.8374288 0.0001243403

• Stealamt after guard

summary(peer_iv_stealamt_star_normal_in_tip_withmanagers_update_afterguard)$coefficients

                                               Estimate Std. Error   t value     Pr(>|t|)
`log(startargetTotalStealAmount + 1)(fit)`    1.2719209 0.15438237  8.238770 1.740603e-16
`log(normaltargetTotalStealAmount + 1)(fit)` -0.5666043 0.06681436 -8.480278 2.247586e-17

Star VS Normal in Stealcnt

• Tipping

summary(peer_iv_AvgTip_star_normal_in_stealcnt_withmanagers_update)$coefficients

                            Estimate  Std. Error   t value      Pr(>|t|)
`startargetAvgTip(fit)`    0.1209345 0.003587028  33.71438 3.888560e-249
`normaltargetAvgTip(fit)` -0.1971571 0.008787468 -22.43617 1.777236e-111

• Tipping before guard

summary(peer_iv_AvgTip_star_normal_in_stealcnt_withmanagers_update_beforeguard)$coefficients

                            Estimate  Std. Error   t value     Pr(>|t|)
`startargetAvgTip(fit)`    0.1470953 0.008981127  16.37827 2.806936e-60
`normaltargetAvgTip(fit)` -0.2997397 0.025238771 -11.87616 1.585904e-32

• Tipping after guard

summary(peer_iv_AvgTip_star_normal_in_stealcnt_withmanagers_update_afterguard)$coefficients

                            Estimate  Std. Error  t value     Pr(>|t|)
`startargetAvgTip(fit)`   0.01589830 0.001325319 11.99583 3.743399e-33
`normaltargetAvgTip(fit)` 0.03493638 0.001881384 18.56951 5.729723e-77

• Stealcnt

summary(peer_iv_stealcnt_star_normal_in_stealcnt_withmanagers_update)$coefficients

                                           Estimate Std. Error   t value     Pr(>|t|)
`log(startargetTotalStealCnt + 1)(fit)`   0.1767345 0.01228556 14.385544 6.396439e-47
`log(normaltargetTotalStealCnt + 1)(fit)` 0.1888203 0.11159139  1.692069 9.063292e-02

• Stealcnt before guard

summary(peer_iv_stealcnt_star_normal_in_stealcnt_withmanagers_update_beforeguard)$coefficients

                                            Estimate Std. Error    t value     Pr(>|t|)
`log(startargetTotalStealCnt + 1)(fit)`    0.2484815 0.02906889  8.5480227 1.254640e-17
`log(normaltargetTotalStealCnt + 1)(fit)` -0.3136787 0.32673125 -0.9600512 3.370298e-01

• Stealcnt after guard

summary(peer_iv_stealcnt_star_normal_in_stealcnt_withmanagers_update_afterguard)$coefficients

                                           Estimate Std. Error   t value     Pr(>|t|)
`log(startargetTotalStealCnt + 1)(fit)`   0.1581862 0.01328960 11.903009 1.143544e-32
`log(normaltargetTotalStealCnt + 1)(fit)` 0.3350488 0.09637278  3.476592 5.078378e-04

• Stealamt

summary(peer_iv_stealamt_star_normal_in_stealcnt_withmanagers_update)$coefficients

                                               Estimate Std. Error   t value   Pr(>|t|)
`log(startargetTotalStealAmount + 1)(fit)`   -0.1974692 0.08819763 -2.238940 0.02515986
`log(normaltargetTotalStealAmount + 1)(fit)` -0.1766743 0.12708788 -1.390174 0.16447610

• Stealamt before guard

summary(peer_iv_stealamt_star_normal_in_stealcnt_withmanagers_update_beforeguard)$coefficients

                                                Estimate Std. Error     t value  Pr(>|t|)
`log(startargetTotalStealAmount + 1)(fit)`   -0.25741074  0.2461830 -1.04560728 0.2957428
`log(normaltargetTotalStealAmount + 1)(fit)`  0.01928278  0.3437606  0.05609363 0.9552672

• Stealamt after guard

summary(peer_iv_stealamt_star_normal_in_stealcnt_withmanagers_update_beforeguard)$coefficients

                                                Estimate Std. Error     t value  Pr(>|t|)
`log(startargetTotalStealAmount + 1)(fit)`   -0.25741074  0.2461830 -1.04560728 0.2957428
`log(normaltargetTotalStealAmount + 1)(fit)`  0.01928278  0.3437606  0.05609363 0.9552672

Star VS Normal in stealamt

• Tipping

summary(peer_iv_AvgTip_star_normal_in_stealamt_withmanagers_update)$coefficients

                             Estimate  Std. Error   t value     Pr(>|t|)
`startargetAvgTip(fit)`    0.06063209 0.003737672  16.22189 3.548615e-59
`normaltargetAvgTip(fit)` -0.12245839 0.009134068 -13.40677 5.531181e-41

• Stealcnt

summary(peer_iv_stealcnt_star_normal_in_stealamt_withmanagers_update)$coefficients

                                           Estimate Std. Error   t value     Pr(>|t|)
`log(startargetTotalStealCnt + 1)(fit)`   0.1365358 0.01095618 12.461990 1.205317e-35
`log(normaltargetTotalStealCnt + 1)(fit)` 0.2653367 0.06923149  3.832601 1.267977e-04

• Stealamt

summary(peer_iv_stealamt_star_normal_in_stealamt_withmanagers_update)$coefficients

                                                Estimate Std. Error    t value Pr(>|t|)
`log(startargetTotalStealAmount + 1)(fit)`   -0.01140217  0.0849677 -0.1341942 0.893249
`log(normaltargetTotalStealAmount + 1)(fit)` -0.20909361  0.7993118 -0.2615921 0.793636

New Employee’s Peer Effect

Tipping

• First 60 days

summary(peer_iv_effect_AvgTip_lag_withmanager_update_first60)$coefficients

                        Estimate Std. Error   t value     Pr(>|t|)
`avg_peerAvgTip(fit)` -0.1555147 0.01762768 -8.822186 1.123593e-18

• 60-120 Days

summary(peer_iv_effect_AvgTip_lag_withmanager_update_mid60)$coefficients

                        Estimate Std. Error  t value      Pr(>|t|)
`avg_peerAvgTip(fit)` -0.5204813 0.02210233 -23.5487 1.486412e-122

• Over 120 Days

summary(peer_iv_effect_AvgTip_lag_withmanager_update_last60)$coefficients

                      Estimate Std. Error  t value    Pr(>|t|)
`avg_peerAvgTip(fit)` 1.672857 0.08271381 20.22464 6.62741e-91

Stealcnt

• First 60 days

summary(peer_iv_effect_stealcnt_lag_withmanager_update_first60)$coefficients

                                       Estimate Std. Error  t value     Pr(>|t|)
`log(avg_peerTotalStealCnt + 1)(fit)` 0.4193988 0.05423401 7.733133 1.049942e-14

• 60-120 Days

summary(peer_iv_effect_stealcnt_lag_withmanager_update_mid60)$coefficients

                                       Estimate Std. Error  t value     Pr(>|t|)
`log(avg_peerTotalStealCnt + 1)(fit)` 0.3153305 0.07621898 4.137165 3.516747e-05

• Over 120 Days

summary(peer_iv_effect_stealcnt_lag_withmanager_update_last60)$coefficients

                                       Estimate Std. Error t value   Pr(>|t|)
`log(avg_peerTotalStealCnt + 1)(fit)` 0.2080005 0.08756219 2.37546 0.01752757

Stealamt

• First 60 days

summary(peer_iv_effect_stealamt_lag_withmanager_update_first60)$coefficients

                                          Estimate Std. Error  t value     Pr(>|t|)
`log(avg_peerTotalStealAmount + 1)(fit)` 0.6355699  0.1568869 4.051134 5.097248e-05

• 60-120 Days

summary(peer_iv_effect_stealamt_lag_withmanager_update_mid60)$coefficients

                                           Estimate Std. Error   t value     Pr(>|t|)
`log(avg_peerTotalStealAmount + 1)(fit)` -0.5191083  0.1392796 -3.727095 0.0001937184

• Over 120 Days

summary(peer_iv_effect_stealamt_lag_withmanager_update_last60)$coefficients

                                          Estimate Std. Error   t value     Pr(>|t|)
`log(avg_peerTotalStealAmount + 1)(fit)` -1.007734  0.1706739 -5.904439 3.541464e-09

Restaurant Comparison

• High Cash Stores

length(unique(peer_effect_with_manager_update_highcash$storekey))

[1] 120

• Low Cash Stores

length(unique(peer_effect_with_manager_update_lowcash$storekey))

[1] 931

Tipping

• High Cash Percentage

summary(peer_iv_effect_AvgTip_lag_withmanager_update_highcash)$coefficients

                         Estimate Std. Error    t value  Pr(>|t|)
`avg_peerAvgTip(fit)` -0.01702114 0.02931866 -0.5805566 0.5615398

• Low Cash

summary(peer_iv_effect_AvgTip_lag_withmanager_update_lowcash)$coefficients

                        Estimate  Std. Error  t value     Pr(>|t|)
`avg_peerAvgTip(fit)` 0.04568702 0.008012774 5.701773 1.185779e-08

Stealcnt

• High Cash

summary(peer_iv_effect_stealcnt_lag_withmanager_update_highcash)$coefficients

                                        Estimate Std. Error   t value  Pr(>|t|)
`log(avg_peerTotalStealCnt + 1)(fit)` 0.00404247 0.02142919 0.1886431 0.8503726

• Low Cash

summary(peer_iv_effect_stealcnt_lag_withmanager_update_lowcash)$coefficients

                                       Estimate Std. Error t value     Pr(>|t|)
`log(avg_peerTotalStealCnt + 1)(fit)` 0.3013009 0.03955222  7.6178 2.581038e-14

Stealamt

• High Cash

summary(peer_iv_effect_stealamt_lag_withmanager_update_highcash)$coefficients

                                           Estimate Std. Error   t value     Pr(>|t|)
`log(avg_peerTotalStealAmount + 1)(fit)` -0.8781168  0.1205598 -7.283662 3.256625e-13

• Low Cash

summary(peer_iv_effect_stealamt_lag_withmanager_update_lowcash)$coefficients

                                           Estimate Std. Error   t value  Pr(>|t|)
`log(avg_peerTotalStealAmount + 1)(fit)` 0.07376214  0.3521624 0.2094549 0.8340931

Test of Two method of Fixed effect model with peer effect

Tipping

OLS

• Without demean of fixed effect

summary(peer_ols_effect_AvgTip_storetest_matrix)$coefficients[2,]

    Estimate   Std. Error      t value     Pr(>|t|) 
0.1386023668 0.0371767505 3.7282001515 0.0001945276 

• With demean of fixed effect

summary(peer_ols_effect_AvgTip_storetest_demean)$coefficients

                Estimate Std. Error t value     Pr(>|t|)
avg_peerAvgTip 0.1386024 0.03717675  3.7282 0.0001945276

IV

• Without demean of fixed effect

summary( peer_iv_effect_AvgTip_storetest_matrix)$coefficients[2,]

   Estimate  Std. Error     t value    Pr(>|t|) 
0.874568192 0.247409424 3.534902502 0.000410827 

• With demean of fixed effect

summary(peer_iv_effect_AvgTip_storetest_demean)$coefficients

                       Estimate Std. Error  t value    Pr(>|t|)
`avg_peerAvgTip(fit)` 0.8745682  0.2474094 3.534903 0.000410827

Stealcnt

OLS

• Without demean of fixed effect

summary(peer_ols_effect_stealcnt_storetest_matrix)$coefficients[2,]

  Estimate Std. Error    t value   Pr(>|t|) 
0.02688869 0.01643700 1.63586359 0.10191762 

• With demean of fixed effect

summary(peer_ols_effect_stealcnt_storetest_demean)$coefficients

                        Estimate Std. Error  t value  Pr(>|t|)
avg_peerTotalStealCnt 0.02688869   0.016437 1.635864 0.1019176

IV

• Without demean of fixed effect

summary( peer_iv_effect_stealcnt_storetest_matrix)$coefficients[2,]

  Estimate Std. Error    t value   Pr(>|t|) 
0.18600951 0.11184236 1.66314001 0.09633368 

• With demean of fixed effect

summary(peer_iv_effect_stealcnt_storetest_demean)$coefficients

                              Estimate Std. Error t value   Pr(>|t|)
`avg_peerTotalStealCnt(fit)` 0.1860095  0.1118424 1.66314 0.09633368