Everyone’s trading bias for variance at some point, it’s just done at different places in the analyses
Statistical Modeling, Causal Inference, and Social Science 2013-03-15
Summary:
Some things I respect When it comes to meta-models of statistics, here are two philosophies that I respect: 1. (My) Bayesian approach, which I associate with E. T. Jaynes, in which you construct models with strong assumptions, ride your models hard, check their fit to data, and then scrap them and improve them as necessary. [...]