Occam’s/Ockham’s razor

Occam’s or Ockham’s razor is sometimes referred to as the law of parsimony or economy, which states that when confronted with two competing hypotheses that are equal in all other aspects, it is better to select the one that makes fewer assumptions. It is named after the 14th century philosopher and Franciscan Friar, William of Ockham, (1285-1349). The term ‘Occam or Ockham’s razor’ was coined centuries later by Sir William Hamilton in 1852.