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We have been in the book business since 1978 as The Book Pedlar, Ltd. At that time, we issued catalogues and sold books through the mail. Unfortunately, after several years of catalogues, we found that the time involved in producing attractive catalogues and the ever-increasing postal costs involved in large mailings made this a less than perfect way to sell books. We put the book selling portion of the business on hold, devoted ourselves to academic careers in English literature and fisheries economics, but continued to acquire collections in anticipation of opening a bookstore. In the process, we accumulated about 60,000 books.

We propose a simplified approach to matching for causal inference that simultaneously optimizes both balance (between the treated and control groups) and matched sample size. This procedure resolves two widespread tensions in the use of this powerful and popular methodology. First, current practice is to run a matching method that maximizes one balance metric (such as a propensity score or average Mahalanobis distance), but then to check whether it succeeds with respect to a different balance metric for which it was not designed (such as differences in means or L1).

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