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by closed
3173 days ago
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In my experience, most the time people use binning, it's straightforward to demonstrate that their binning+model is equivalent to restricted forms of more general models (e.g. common general additive / structural equation model). Sometimes binning is useful, because it makes them much easier to estimate. However, people's rationales for why they should bin is often that it makes the model better / more interpretable, without actually testing the more restricted binned model against the more general one. There's certainly something to be said for knowing your audience when choosing a model, though :). |
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