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arXiv · 2606.20435

Choosing A Headline Estimand from Matching, DID, and Hybrid Designs: A Minimax-Regret Approach

Yechan Park·Yuya Sasaki
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Abstract

Researchers using panel data to estimate causal effects routinely choose among three approaches to using past outcomes: difference-in-differences (DID), conditioning on lagged outcomes (matching, M), and a hybrid that does both (DIDM). The corresponding identifying assumptions are non-nested, leaving little guidance on which to report. We give conditions under which the corresponding estimands are ordered, with DIDM bracketed between matching and DID. This makes DIDM the minimax-regret choice among the three under a broad class of loss functions. We recommend reporting DIDM as the headline estimate, with matching and DID as bounds. We illustrate in applications.

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Yechan Park, Yuya Sasaki. 2026-06-18. Choosing A Headline Estimand from Matching, DID, and Hybrid Designs: A Minimax-Regret Approach. https://arxiv.org/abs/2606.20435

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