Simplicity, Scientific Inference and Econometric Modelling
Bibliographic Data
| ID | 9712977 |
|---|---|
| Authors | Hugo A Keuzenkamp (Tilburg University), Michael McAleer (0000-0003-2707-3835, The University of Western Australia) |
| Year | 1995 |
| Volume | 105 |
| Issue | 428 |
| Pages | 1 |
| Publication date | 1995-01-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.2307/2235317 |
| OpenAlex | W2023698897 |
| Language | EN |
| Citations received | 1 |
Two issues are discussed in this paper. The first is whether a formal definition and justification of simplicity (parsimony) in scientific inference can be found, and whether an optimal level of simplicity is obtainable. A definition of simplicity is possible, as are the optimum conditions for the desired degree of simplicity. The model of inference used here relates Bayesian inference to algorithmic information theory. Simplicity is examined in the light of induction, the Duhem-Quine thesis, and bounded rationality. The second issue relates to the role that simplicity might play in econometric modelling. This is elucidated with some remarks on the `general to specific' approach to modelling and discussions on the purpose of a model
Bayesian inference · Bayesian probability · Epistemology · Inference · Mathematical economics · Simplicity · Artificial Intelligence · Complex Systems and Time Series Analysis · Computer Science · Mathematics · Philosophy
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,06 |
| Citation span | 2010 - 2010 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |