Near/far matching

What is better: propensity score matching or instrumental variables? How about both? That is basically what is proposed using a near/far matching approach as described in Baiocchi et al. (2012). In this paper, they use a two step approach to examine the causal affect of adopting a new treatment–carotid arterial stents (CAS)–versus and older treatment–carotid…

How much is your life worth?

How much should we value life? This is the question put forth in an interesting book by Howard Steven Friedman called Ultimate Price. The book reviews how economists, policymakers, philosophers and others place a monetary value on life. This could be a value courts place when making awards in lawsuits due to harm or death,…