par·si·mo·ny 
(pärsə-mō′nē)
(pärsə-mō′nē)n.
1. Unusual or excessive frugality; extreme economy or stinginess.
2. Adoption of the simplest assumption in the formulation of a theory or in the interpretation of data, especially in accordance with the rule of Ockham's razor.
[Middle English parcimony, from Latin parsimōnia, from parsus, past participle of parcere, to spare.]