Parsimony Meaning: Definition, Examples, and Translations
๐ฐ
parsimony
[หpษห.sษช.mษ.ni ]
Definitions
in science
The principle of parsimony states that among competing hypotheses, the one with the fewest assumptions should be selected. It is also known as Occam's razor.
Synonyms
economy, frugality, simplicity.
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| parsimony |
Used to describe extreme unwillingness to spend money or use resources, often in a negative sense.
|
| simplicity |
Relates to the quality of being plain, uncomplicated, or without unnecessary adornments.
|
| economy |
Refers to the careful management of resources to avoid waste and unnecessary expenditure.
|
| frugality |
Describes the quality of being thrifty or economical in the use of resources, often seen as a positive trait.
|
Examples of usage
- The scientist applied the principle of parsimony when developing the theory.
- The concept of parsimony is widely used in the field of evolutionary biology.
in economics
Parsimony refers to the quality of being careful with money or resources, avoiding waste or extravagance.
Synonyms
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| parsimony |
Used when referring to extreme unwillingness to spend money, often perceived negatively.
|
| thrift |
Used positively to describe wise spending habits and saving practices.
|
| frugality |
Typically used to describe a positive lifestyle choice involving the prudent use of resources and avoidance of unnecessary spending.
|
| economy |
Used in a positive sense to describe the careful and efficient management of money, resources, or time.
|
Examples of usage
- The company's success was attributed to its parsimony in spending.
- Her parsimony allowed her to save enough money for a comfortable retirement.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
Psychology
- In behavioral economics, individuals often exhibit parsimony in decision-making by choosing the option with the least financial burden.
- Overly parsimonious choices can lead to a 'thrift' mindset, impacting overall satisfaction and well-being.
- Parsimony can be linked to personality traits such as conscientiousness, where individuals are careful and organized in their spending habits.
Science
- In science, the principle of parsimony, or Occam's Razor, suggests that the simplest explanation is usually the correct one.
- This principle is often applied in fields like biology and physics to formulate theories that require the least assumptions.
- Researchers use parsimony methods in phylogenetics to create trees that represent evolutionary relationships using the simplest changes.
Economics
- Parsimony is essential in budgeting, as it encourages individuals and organizations to allocate their resources more effectively.
- Financial advisors often recommend parsimonious strategies to ensure long-term savings and investment growth.
- In corporate decision-making, a parsimonious approach may lead to cost-cutting measures that prioritize essential expenditures.
Literature
- Parsimony appears in literature as a theme, showing characters who hoard wealth or resources and the impact of their frugality.
- Charles Dickensโ character Ebenezer Scrooge is a quintessential example of parsimony, representing extreme frugality and its consequences.
- In poetry and prose, the notion of parsimony often contrasts with generosity, exploring the moral implications of both traits.
Origin of 'parsimony'
Main points about word origin
- The word comes from the Latin 'parsimonia,' meaning 'frugality' or 'stinginess'.
- It is derived from 'parsus,' which means 'to spare' or 'to economize'.
- The term has been used in English since the early 17th century.
The word 'parsimony' has its roots in the Latin word 'parsimonia', which means 'frugality' or 'sparingness'. The concept of parsimony has been influential across various disciplines, from philosophy to economics. It is often associated with Occam's razor, a principle attributed to the philosopher William of Ockham, emphasizing simplicity and minimal assumptions in reasoning.