Armstrong, Timothy B.; Kline, Patrick; Sun, Liyang - National Bureau of Economic Research - 2024
parameter can invoke strong assumptions to motivate a restricted estimator that is precise but may be heavily biased, or they … can relax some of these assumptions to motivate a more robust, but variable, unrestricted estimator. When a bound on the … bias of the restricted estimator is available, it is optimal to shrink the unrestricted estimator towards the restricted …