Shrinkage - Wikipedia

Abstraction: Disambiguation page listing multiple meanings of shrinkage

Key points:

• "Shrinkage" is a polysemous term spanning physical, accounting, and statistical domains
• In statistics, shrinkage is a technique to improve an estimator — the statistically relevant meaning for ML/data science
• Physical meanings include size reduction in casting, concrete, fabric, and wood
• Accounting meaning is loss of product inventory due to theft, damage, or spoilage
• The statistics definition is the primary ML-relevant sense (e.g., ridge regression, LASSO, and James-Stein estimator all employ shrinkage)

Connections: Wikipedia · Shrinkage · Statistical Estimation

Source: https://en.wikipedia.org/wiki/Shrinkage