The complexity of simplicity

Hugo A. Keuzenkamp and Michael McAleer

Mathematics and Computers in Simulation (MATCOM), 1997, vol. 43, issue 3, 553-561

Abstract: 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.

Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:eee:matcom:v:43:y:1997:i:3:p:553-561

DOI: 10.1016/S0378-4754(97)00044-X

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