Simplicity and likelihood: An axiomatic approach
We suggest a model in which theories are ranked given various databases. Certain axioms on such rankings imply a numerical representation that is the sum of the log-likelihood of the theory and a fixed number for each theory, which may be interpreted as a measure of its complexity. This additive combination of log-likelihood and a measure of complexity generalizes both the Akaike Information Criterion and the Minimum Description Length criterion, which are well known in statistics and in machine learning, respectively. The axiomatic approach is suggested as a way to analyze such theory-selection criteria and judge their reasonability based on finite databases.
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- Itzhak Gilboa & David Schmeidler, 2003.
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1486, Cowles Foundation for Research in Economics, Yale University.
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- Antoine Billot & Itzhak Gilboa & Dov Samet & David Schmeidler, 2004. "Probabilities as Similarity-Weighted Frequencies," Levine's Bibliography 122247000000000696, UCLA Department of Economics.
- Antoine Billot & Itzhak Gilboa & David Schmeidler & Dov Samet, 2004. "Probabilities as Similarity-Weighted Frequencies," Cowles Foundation Discussion Papers 1492, Cowles Foundation for Research in Economics, Yale University.
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