Abstract

It was 50 years ago Arthur Hoerl and Robert Kennard published their breakthrough article on ridge regression in Technometrics. I am not sure at that time if they had realized the enormous impact their article would make in the field of statistics. Today, in modern statistics, we cannot imagine a world without ridge and its successors such as lasso and other regularization techniques. They have become indispensable tools in the hands of statisticians and data scientists. This special issue of Technometrics is a tribute to their seminal work and contains a few invited articles and discussions.