Simplicity, Inference and Modelling: Keeping It Sophisticatedly Simple

The idea that simplicity matters in science is as old as science itself, with the much cited example of Ockham's Razor. A problem with Ockham's Razor is that nearly everybody seems to accept it, but few are able to define its exact meaning and to make it operational in a non-arbitrary way. Using a multidisciplinary perspective including philosophers, mathematicians, econometricians and economists, this monograph examines simplicity by asking six questions: What is meant by simplicity? How is simplicity measured? Is there an optimum trade-off between simplicity and goodness-of-fit? What is the relation between simplicity and empirical modelling? What is the relation between simplicity and prediction? What is the connection between simplicity and convenience?

Author: Arnold Zellner
Publisher: Cambridge University Press
Published: 02/07/2002
Pages: 314
Binding Type: Hardcover
Weight: 1.40lbs
Size: 9.10h x 6.20w x 0.90d
ISBN13: 9780521803618
ISBN10: 0521803616
BISAC Categories:
- Business & Economics | Econometrics

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