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 ?
His confidence in these interpretations arose from the consistencies he saw in the action of the variables in the physical model, table, and equation.
Oilsands Quest will evaluate the recovery and production methods developed with the 3D scaled physical model for its Axe Lake Discovery in northwest Saskatchewan.
AECOM used Rapid Model Prototyping (RMP) technology, a method that produces a physical print from 3-D computer-aided design (CAD) data, to build layers upon existing layers, and create the physical model for the client.
Optimization of the project if necessary by making the necessary changes to the physical model.
Taurus-Process and Taurus-Device have a physical model and equation interface (PMEI) that provides an easy and flexible way to define new physical models in the simulation.
based Rapid News Magazine that improvements in the on-screen capabilities of CAD packages will soon be reducing the need for physical model production.
You can hypothesize that in the future, rather than looking at a computer screen to visualize a scientific model, you'll be able to hit a button and walk away with a physical model.
Photo: (1--2) Retired elementary school teacher Kathryn Beaumont, who provided the voice for Wendy in Walt Disney's 45-year-old ``Peter Pan,'' was also the physical model for the animated character.
The mathematical models can be built and altered more quickly than physical models.
Contract notice: Hydraulic physical model study - supply system brondeloire pool in roubaix
It is the most complex computer model ever made from a physical model, Levoy said.
Using the database of the rationalised design, a physical model was computer milled, compared to the original cardboard model and adjusted where necessary.

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