Post #3040182

Some choice quotes on the topic of instrumental variables: From Swanson and Hernán 2014 > Imbens states we are “limited in the questions we can answer credibly and precisely.” We agree, but there are differences between the questions we can answer and the questions we want answered. Choosing only answerable questions (e.g., identifying the LATE in some settings) can mislead decision-making efforts: our estimates may be misinterpreted as directly relevant to a decision when in fact they are only tangentially related. From Levis, Kennedy, and Keele 2024 > Often in the literature, it is noted that the choice of estimand should be based on a scientific judgement and should reflect the specific research question. However, it is often the case that there is some interplay between the estimand and the plausibility of the identification assumptions. Nowhere is this more true than in an IV analysis. What do you think? Do you have a favorite instrumental variable? Tell me it's not rainfall! https://www.jonathanmellon.com/publication/rain/