Intuitively how does the LASSO method select its variables?
Is it based on standard econometrics?
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@Tim: In the link you give the question is "I would like to know why the Lasso provides variable selection and ridge regression doesn't.". That seems to be a different question to me. If this question wouldn't be marked as a dup0licate I would like to post an answer. – May 09 '19 at 09:23
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@boulder this question was already answered in several places, I added few more links as duplicaes. – Tim May 09 '19 at 09:31
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@Tim: Okay, I did not know that. Thank you. – May 09 '19 at 09:33