They should give something like a random forests a shot on the raw multinomial/one-hot encoded responses: https://www.reddit.com/r/gwern/comments/9vy62y/your_personality_data_can_do_more_items_provide/e9g0nyz/ … I bet there's some more predictive power to squeeze out, and would demonstrate the point much more dramatically.
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RF type stuff didn't produce any more validity for the cognitive tests, was slightly worse than ridge regression, and >10x slower to fit. But for personality, one would have a stronger prior for interaction effects, whereas not for cognitive data.
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Hm, maybe not enough data then. Just for the NEO-PI-R here, unfolding Likert items without facets/Big Fives would give 1200 variables to search over.
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Throw some xgboost at it and I bet you get some nice results.
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If RF doesn't pick up anything beyond a dumb linear regression, I'd expect XGboost to likewise add only a little. They're not that different, after all, and if there's not enough data, there's not enough data.
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If you are going to give up theory, don't use questionnaires at all. You can get 12-15% EV on a trait like IQ just looking at FB statuses. Could be considered 40k questions of form: "how often do you use X word?"
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I would like to know EV for outcomes as well as traits, but that hasn't been researched as much
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