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Related to deterministic model: stochastic model, probabilistic model

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 ?
Further, we can conclude that the stochastic model (2) has a stationary distribution when the deterministic model (1) has a positive equilibrium.
The researches given in this paper show that stochastic model (2) has more rich dynamical properties than the corresponding deterministic model (1).
Using an agent-based simulation gives a more biologically realistic result than deterministic models and also allows students to efficiently examine in detail the dynamics of population genetics principles that were previously introduced in the lecture portion of the course.
Nevertheless, the percent of variance explained by regression tree boosting appears to equal or exceed results reported using deterministic models that rely on diagnostic groups, age, and gender as inputs (Weiner et al.
As for that favorite assumption of gay activists that a deterministic model will reduce anti-gay prejudice, this too is far from straightforward, as it were.
However improvements can be made to the deterministic model with the addition of the random effect term.
A simple deterministic model for the spread of a highly communicable disease such as SARS is given by the ordinary differential equation [?
That is, the tendency to use the deterministic model is in itself an important indicator of students' level of understanding of the nondeterministic model.
This threshold can be approximated from the deterministic model by setting [[beta].
8) Bias component of the pure ARIMA model was the lowest, and the variance component of the deterministic model was smaller than that of the other three models.
The spreadsheet validates all data and creates a deterministic model making an initial, complete system design immediately available.
Rebuilding time isopleths from deterministic model type 1 were quite different from isopleths (other than for median rebuilding times) from stochastic models.

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