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Optimal Caliper Width for Propensity Score Matching of Three Treatment Groups: A Monte Carlo Study

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  • Yongji Wang
  • Hongwei Cai
  • Chanjuan Li
  • Zhiwei Jiang
  • Ling Wang
  • Jiugang Song
  • Jielai Xia

Abstract

Propensity score matching is a method to reduce bias in non-randomized and observational studies. Propensity score matching is mainly applied to two treatment groups rather than multiple treatment groups, because some key issues affecting its application to multiple treatment groups remain unsolved, such as the matching distance, the assessment of balance in baseline variables, and the choice of optimal caliper width. The primary objective of this study was to compare propensity score matching methods using different calipers and to choose the optimal caliper width for use with three treatment groups. The authors used caliper widths from 0.1 to 0.8 of the pooled standard deviation of the logit of the propensity score, in increments of 0.1. The balance in baseline variables was assessed by standardized difference. The matching ratio, relative bias, and mean squared error (MSE) of the estimate between groups in different propensity score-matched samples were also reported. The results of Monte Carlo simulations indicate that matching using a caliper width of 0.2 of the pooled standard deviation of the logit of the propensity score affords superior performance in the estimation of treatment effects. This study provides practical solutions for the application of propensity score matching of three treatment groups.

Suggested Citation

  • Yongji Wang & Hongwei Cai & Chanjuan Li & Zhiwei Jiang & Ling Wang & Jiugang Song & Jielai Xia, 2013. "Optimal Caliper Width for Propensity Score Matching of Three Treatment Groups: A Monte Carlo Study," PLOS ONE, Public Library of Science, vol. 8(12), pages 1-7, December.
  • Handle: RePEc:plo:pone00:0081045
    DOI: 10.1371/journal.pone.0081045
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    2. Gabriele Cappelli & Michelangelo Vasta, 2021. "A “Silent Revolution”: school reforms and Italy’s educational gender gap in the Liberal Age (1861–1921)," Cliometrica, Springer;Cliometric Society (Association Francaise de Cliométrie), vol. 15(1), pages 203-229, January.
    3. Loureiro, Gilberto & Silva, Sónia, 2022. "Earnings management and stock price crashes post U.S. cross-delistings," International Review of Financial Analysis, Elsevier, vol. 82(C).
    4. Moritz Sefried & Jan Riepe, 2023. "The benefits of banks’ IT investments in times of trouble: evidence from loan loss accruals during the COVID-19 pandemic," Journal of Business Economics, Springer, vol. 93(1), pages 149-171, January.
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    6. Gabriele Cappelli & michelangelo.vasta@unisi.it, 2019. "Can school centralisation foster human capital accumulation? A quasi-experiment from early XX century Italy," Department of Economics University of Siena 802, Department of Economics, University of Siena.
    7. Junqing Xie & Shuo Feng & Xintong Li & Ester Gea-Mallorquí & Albert Prats-Uribe & Dani Prieto-Alhambra, 2022. "Comparative effectiveness of the BNT162b2 and ChAdOx1 vaccines against Covid-19 in people over 50," Nature Communications, Nature, vol. 13(1), pages 1-8, December.
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    9. Gilberto Loureiro & Sónia Silva, 2015. "Cross-Delisting, Financial Constraints and Investment Sensitivities," NIPE Working Papers 15/2015, NIPE - Universidade do Minho.
    10. John P Pierce & Tarik Benmarhnia & Ruifeng Chen & Martha White & David B Abrams & Bridget K Ambrose & Carlos Blanco & Nicolette Borek & Kelvin Choi & Blair Coleman & Wilson M Compton & K Michael Cummi, 2020. "Role of e-cigarettes and pharmacotherapy during attempts to quit cigarette smoking: The PATH Study 2013-16," PLOS ONE, Public Library of Science, vol. 15(9), pages 1-16, September.
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    12. Gilberto Loureiro & Sónia Silva, 2015. "Post-Operating Performance of Cross-Delisted Firms From U.S. Stock Exchanges," NIPE Working Papers 17/2015, NIPE - Universidade do Minho.
    13. Lucia Svabova & Marek Durica & Katarina Kramarova & Katarina Valaskova & Katarina Janoskova, 2019. "Employability and Sustainability of Young Graduates in the Slovak Labour Market: Counterfactual Approach," Sustainability, MDPI, vol. 11(16), pages 1-16, August.
    14. Loureiro, Gilberto & Silva, Sónia, 2020. "The impact of cross-delisting from the U.S. On firms’ financial constraints," Journal of Business Research, Elsevier, vol. 108(C), pages 132-146.
    15. Richard T. Melstrom, 2021. "The Effect of Land Use Restrictions Protecting Endangered Species on Agricultural Land Values," American Journal of Agricultural Economics, John Wiley & Sons, vol. 103(1), pages 162-184, January.
    16. Fang, Tony & Lin, Carl & Tang, Xueli, 2024. "Where did the time go? The effects of China's two-day weekend policy on labor supply, household work, and wages," China Economic Review, Elsevier, vol. 83(C).
    17. Hu, Jin & Hu, Daning & Yang, Xuan & Chau, Michael, 2023. "The impacts of lockdown on open source software contributions during the COVID-19 pandemic," Research Policy, Elsevier, vol. 52(10).

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