Methoden vergleichen

	Bayesian Instrumental Variables (Bayesian IV)	Propensity Score Matching
Fachgebiet	Kausale Inferenz	Forschungsstatistik
Familie	Regression model	Process / pipeline
Entstehungsjahr	2003	1983
Urheber	Kleibergen & Zivot (2003); Lancaster (2004)	Paul Rosenbaum and Donald Rubin
Typ	Causal inference / Bayesian estimation	Method
Wegweisende Quelle	Kleibergen, F., & Zivot, E. (2003). Bayesian and classical approaches to instrumental variable regression. Journal of Econometrics, 114(1), 29-72.	Rosenbaum, P. R., & Rubin, D. B. (1983). The central role of the propensity score in observational studies for causal effects. Biometrika, 70(1), 41–55.
Aliasnamen	Bayesian IV, Bayesian 2SLS, Bayesian LIML, BayesIV	PSM, propensity score weighting, covariate balance
Verwandt	6	3
Zusammenfassung	Bayesian Instrumental Variables combines the instrumental variable strategy for addressing endogeneity with Bayesian posterior inference. Instead of relying on asymptotic sampling distributions, it places prior distributions over all structural parameters and recovers a full posterior distribution for the causal effect, providing probability statements about the parameter rather than p-values — especially valuable when instruments are weak or the sample is small.	Propensity score matching (PSM) is a method for reducing confounding bias in observational studies by balancing baseline characteristics between treatment groups, simulating randomization. Developed by Rosenbaum and Rubin (1983), it estimates the probability of receiving treatment given observed covariates, then matches or weights treated and control individuals with similar treatment probabilities. Widely used in medicine, epidemiology, and policy evaluation when randomized trials are infeasible or unethical, enabling estimation of treatment effects while controlling for selection bias.