Abstract:
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Unlike in randomized clinical trials (RCTs), confounding control is critical for estimating the causal effects from observational studies. Matching methods are popular because they can be used to emulate an RCT hidden in the observational study. To ensure the key assumption hold, it is common to collect ample possible confounders, rendering dimension reduction imperative in matching. Three matching schemes based on the propensity score (PSM), prognostic score (PGM), and double score (DSM, the collection of the first two scores) have been proposed in the literature. However, it lacks a comprehensive comparison among the matching schemes and has not made inroads into the best practices including variable selection, choice of caliper and replacement. In this article, we characterize the statistical and numerical properties of PSM, PGM, and DSM. We show that DSM performs favorably with, if not better than, PSM and PGM. In particular, DSM is doubly robust in the sense that the matching estimator is consistent requiring either the PS or PG model is correctly specified. We also provide detailed instructions for DSM and illustrate the recommendations with comprehensive simulation studies.
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