Occam's razor is the principle that, of two explanations that account for all the facts, the simpler one is more likely to be correct. Occam's razor, Ockham's razor, Ocham's razor or law of parsimony is the problem-solving principle that "entities should not be multiplied without necessity. Occam's razor, Ockham's razor, Ocham's razor (Latin: novacula Occami) or law of parsimony (Latin: lex parsimoniae) is the problem-solving principle that. Occam's razor (also known as the “law of parsimony”) is a problem-solving principle which serves as a useful mental model. Occam's razor is based on the notion that simplicity equals perfection. The term Occam's razor refers to the philosophical idea that of any given set of explanations for an event occurring, it is most likely that the simplest one is the.