  The Renormalization Group (RG) is a set of methods that have been
instrumental in tackling problems involving an infinite number of degrees of
freedom. What all these methods have in common -- which is what explains their
success -- is that they allow a systematic search for those degrees of freedom
that happen to be relevant to the phenomena in question. In the standard
approaches the RG transformations are implemented by either coarse graining or
by changes of variables. When these transformations are infinitesimal the
formalism can be described as a continuous dynamical flow in a fictitious time
parameter. It is generally the case that these exact RG equations are
functional diffusion equations. In this paper we show that the exact RG
equations can be derived using entropic methods. The RG flow is then described
as a form of entropic dynamics of field configurations. Although equivalent to
other versions of the RG, in this approach the RG transformations receive a
purely inferential interpretation that establishes a clear link to information
theory.
