I'm working on building a prediction model. I used group LASSO to perform some variable selection and ended up with a model that performs quite well. However, there are about 100 inputs right now and my collaborator wants to see if we can trim down on some more variables and suggested tossing out variables that aren't significant (p > 0.05).
If I decide to exclude these variables from my model, do I have to train and refit another model using the smaller list of variables? Or does it make sense to simply use the coefficients from the old model and just delete coefficients associated to the insignificant variables? I'm worried that refitting a new model will result in bias since we already saw the data and results. Any help or advice would be greatly appreciated.