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Simplicity, Inference and Modelling: Keeping It Sophisticatedly Simple by Arnold Zellner, Hugo A. Keuzenkamp, Michael McAleer

Simplicity, Inference and Modelling: Keeping It Sophisticatedly Simple

by Arnold Zellner , Hugo A. Keuzenkamp , Michael McAleer
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Book cover type: Paperback
  • ISBN13: 9780521121354
  • Binding: Paperback
  • Subject: N/A
  • Publisher: Cambridge University Press
  • Publisher Imprint: Cambridge University Press
  • Publication Date:
  • Pages: 316
  • Original Price: GBP 44.0
  • Language: English
  • Edition: Reissue
  • Item Weight: 463 grams
  • BISAC Subject(s): Metaphysics

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?

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