Simplicity and likelihood: An axiomatic approach

A-Tier
Journal: Journal of Economic Theory
Year: 2010
Volume: 145
Issue: 5
Pages: 1757-1775

Score contribution per author:

2.011 = (α=2.01 / 2 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

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.

Technical Details

RePEc Handle
repec:eee:jetheo:v:145:y:2010:i:5:p:1757-1775
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25