Regression model
Synthetic Control Method (SCM)
The Synthetic Control Method, introduced by Abadie, Diamond and Hainmueller in 2010, builds a weighted counterfactual for a single treated unit from a pool of untreated donor units. It is widely regarded as the gold standard for evaluating large policy interventions, natural experiments, and N=1 case studies where no obvious comparison unit exists.
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Sources
- Abadie, A., Diamond, A., & Hainmueller, J. (2010). Synthetic Control Methods for Comparative Case Studies: Estimating the Effect of California's Tobacco Control Program. Journal of the American Statistical Association, 105(490), 493-505. DOI: 10.1198/jasa.2009.ap08746 ↗
- Abadie, A. (2021). Using Synthetic Controls: Feasibility, Data Requirements, and Methodological Aspects. Journal of Economic Literature, 59(2), 391-425. DOI: 10.1257/jel.20191450 ↗