Whilst it is likely that the philosophy was posthumously attributed to him, as it was based upon common medieval philosophy, it seems to be a result of his minimalist lifestyle.
Occam's razor is more commonly described as 'the simplest answer is most often correct,' although this is an oversimplification. The 'correct' interpretation is that entities should not be multiplied needlessly.
Researchers should avoid 'stacking' information to prove a theory if a simpler explanation fits the observations. Occam's razor is the process of paring down information to make finding the truth easier.
(Let folks over complicate things they are usually hiding something, making excuses for or justifying...)
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