The complexity of simplicity
This paper is concerned with the practical problems associated with understanding and defining the concept of simplicity. Different attempts that have been made to define simplicity and, in particular, definitions based on counting parameters, are discussed and analyzed. The limitations of these attempts, especially as applied to economics, are illustrated by means of several econometric examples, including single-equation models, systems of equations, alternative functional forms, and probability distributions.
Year of publication: |
1997
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Authors: | Keuzenkamp, Hugo A. ; McAleer, Michael |
Published in: |
Mathematics and Computers in Simulation (MATCOM). - Elsevier, ISSN 0378-4754. - Vol. 43.1997, 3, p. 553-561
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Publisher: |
Elsevier |
Saved in:
Online Resource
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