{\rtf1\fs24

\trowd\trgaph75\trleft-75\intbl\trqc\clbrdrt\brdrs\cellx1872\clbrdrt\brdrs\
cellx3600\clbrdrt\brdrs\cellx5328
\ql \cell\qc (1)\cell\qc (2)\cell\row
\trowd\trgaph75\trleft-75\trqc\cellx1872\cellx3600\cellx5328
\trowd\trgaph75\trleft-75\trqc\clbrdrb\brdrs\cellx1872\clbrdrb\brdrs\cellx3600\
clbrdrb\brdrs\cellx5328
\ql VARIABLES\cell\qc Full sample\cell\qc Full sample\cell\row
\trowd\trgaph75\trleft-75\trqc\cellx1872\cellx3600\cellx5328
\ql \cell\qc \cell\qc \cell\row
\ql Won Voucher\cell\qc 0.008\cell\qc 0.013\cell\row
\ql \cell\qc (0.018)\cell\qc (0.010)\cell\row
\ql Constant\cell\qc 0.495***\cell\qc 0.874***\cell\row
\ql \cell\qc (0.014)\cell\qc (0.008)\cell\row
\ql \cell\qc \cell\qc \cell\row
\ql Observations\cell\qc 3,139\cell\qc 4,044\cell\row
\trowd\trgaph75\trleft-75\trqc\trbrdrb\brdrs\clbrdrb\brdrs\cellx1872\clbrdrb\brdrs\
cellx3600\clbrdrb\brdrs\cellx5328
\ql R-squared\cell\qc 0.000\cell\qc 0.000\cell\row
\pard\qc
Robust standard errors in parentheses\par
*** p<0.01, ** p<0.05, * p<0.1\par
}