Would anyone be willing to venture an intuitive description of the situations under which a multivariate response model is more appropriate than many linear regressions?
As an example, take a randomly allocated agricultural extension program, and yields of several different crops grown by farmers. You could run several different models for each crop. Or you could aggregate the crops somehow. Or maybe you could run a multivariate response model, whereby your dependent variable is actually a matrix rather than a vector.
I've been reading up on the math of it all, but I haven't found a good intuitive description of the situations where these sorts of models are the most useful, nor their practical pitfalls. I get that the errors will be correlated between responses. Does this mean that you'd get more power in a situation where individual regressions would be underpowered? Is there any reason why coefficient matrices estimated in these models wouldn't have a causal interpretation if a variable is randomly allocated?