On two constructions of an effective field theory

In this paper we discuss two constructions of an effective field theory starting from a local interaction functional. One relies on the well-established graphical combinatorics of the BPHZ algorithm to renormalize divergent Feynman amplitudes. The other, more recent and due to Costello, relies on an inductive construction of local counterterms that uses no graphical combinatorics whatsoever. We show that these two constructions produce the same effective field theory.