I think you're missing my key point: you have to compare two different risks, based on observation. The first risk is the risk of continuing to use a compromised password. The second risk is the risk of users introducing weaker passwords because they continually change them. We can use our reasoning to come up with a decent probability for the first risk. We cannot do so for the second risk, since it depends on how people behave. We must study people to assign a number to the second risk.