The purpose of statistical model selection is to identify a parsimonious model, which is a model that is as simple as possible while maintaining good predictive ability over the outcome of interest.

The minimum description length (MDL) principle originated from data compression literature and has been considered for deriving statistical model selection procedures. Most of the existing methods ...

Occam’s razor is the principle that, all else being equal, simpler explanations should be preferred over more complex ones. This principle is thought to guide human decision-making, but the nature of ...