Review of the book titled “Information and Complexity in Statistical Modeling” by Jorma Rissanen, published by Springer, N. Y., 2007

No statistical model is right or wrong, true or false in a strict sense. We only evaluate and compare their contributions. Based on this theme, Jorma Rissanen has written a short but beautiful book titled “Information and Complexity in Statistical Modeling” (Springer, 2007), where modeling is done primarily by extracting the information from the data that can be learned with suggested classes of probability models. The note reviews this book and on the way rediscovers the chain information-knowledge-wisdom.