Elastic Net, R, Data Science, Editors Pick, Thoughts And Theory.
the equation a bit, we’ll notice that alpha is a very important parameter. In practice, we only allow alpha to take on values between 0 and 1. So, if alpha = 0, the L1 term cancels out and we end up with Ridge regression. Conversely, if alpha = 1, the L2 term cancels out and we end up with LASSO.