I’d guess it’s a classic bias-variance tradeoff. Rolling novel causal models is high variance while outside view considerations can be biased in ways you are blind to but can be good enough for coarse analysis when you just need to get the sign right.
I’d guess it’s a classic bias-variance tradeoff. Rolling novel causal models is high variance while outside view considerations can be biased in ways you are blind to but can be good enough for coarse analysis when you just need to get the sign right.