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Occam's Razor
(redirected from Parsimony Principle)

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Occam's Razor
The simplest expression of scientific truth; where 2 theories exist to explain a similar phenomenon, the one making the fewest assumptions should prevail—i.e., it should be no more complicated than necessary. In keeping with Occam’s razor, generalisations should be based on observed facts and not on other generalisations

Occam's razor
a principle named after William of Occam, a 14th century philosopher. The generalization states that, if there are a number of explanations for observed phenomena, the simplest explanation is preferred. Called also scientific parsimony.


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This simple and useful GARCH is the dominant model applied to financial time series analysis by the parsimony principle.
The parsimony principle recognizes that severe penalties are expensive and usually harmful to offenders and that the crime-control benefits of such penalties are uncertain and often quite limited.
Honorton reiterated many of his criticisms of the earlier book and added some new ones, such as the violation of the parsimony principle by Hansel's elaborate fraud scenarios.
 
 
 
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