Akaike's Information Criterion

A criterion for selecting among nested econometric models. The AIC is a number associated with each model: AIC=ln (sm2) + 2m/T where m is the number of parameters in the model, and sm2 is (in an AR(m) example) the estimated residual variance: sm&l...
Found on http://www.econterms.com/glossary.cgi?query=Akaike's+Information+Criterion
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