model

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Model

Any mathematical formula or other structure that economists use to explain or predict occurrences. Economists test their models with real world facts before they gain wide acceptance, but, even then, there is no guarantee that a model will always be a correct predictor. See also: Model risk.

model

An abstraction of reality, generally referring in investments to a mathematical formula designed to determine security values. Economists also use models to project trends in economic variables such as interest rates, economic activity, and inflation rates.

model

see ECONOMIC MODEL.
References in periodicals archive ?
The PLISSIT model provides a framework to help physiotherapists decide what level of involvement they should have regarding interventions for improving a person's sexual wellbeing.
Using the extended PLISSIT model to address sexual health care needs.
In summary, the PLISSIT model can help individuals with chronic conditions restore the person--environment fit while managing life stressors that threaten emotional and physiological equilibrium.