Define Ockham’s razor.

Ockham's Razor, also known as the principle of parsimony or the law of economy, is a methodological and philosophical principle attributed to the medieval English philosopher and Franciscan friar William of Ockham. The razor advocates for simplicity and the elimination of unnecessary assumptions when formulating explanations or theories.

In essence, Ockham's Razor suggests that among competing hypotheses or explanations, the one that requires the fewest assumptions or postulates is often the most preferable. The principle encourages a preference for simplicity, coherence, and elegance in constructing theories. It emphasizes the idea that unnecessary complexities in explanations should be avoided unless there is clear evidence or necessity.

The razor is often paraphrased as "Entities should not be multiplied without necessity." This means that when multiple explanations are possible, the one that posits the fewest entities or assumptions is more likely to be accurate. Ockham's Razor has become a guiding principle in various fields, including science, philosophy, and methodology, influencing the development of theories and the formulation of hypotheses by favoring simplicity and clarity in intellectual pursuits.