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 classic literature ?
So that it was the Psychologist himself who sent forth the model Time Machine on its interminable voyage.
Wa-al, Enoch Fuller he made a model o' the old Ohio, and she's to Salem museum now.
The rudder is also very much larger, in proportion, than that of the model ; and the screw is considerably smaller.
His distinguished father did nothing whatever but stand before the fire, a model of deportment.
Gorboduc' outdoes its Senecan models in tedious moralizing, and is painfully wooden in all respects; but it has real importance not only because it is the first regular English tragedy, but because it was the first play to use the iambic pentameter blank verse which Surrey had introduced to English poetry and which was destined to be the verse-form of really great English tragedy.
There you are right, he replied; but if any one asks where are such models to be found and of what tales are you speaking-- how shall we answer him?
Upon which great models he had principally formed himself; sometimes according with the opinion of the one, and sometimes with that of the other.
He intended every child in it to be a model - just as the young Gradgrinds were all models.
Make 'em your models,' tapping the fire-shovel on the hearth to add force to his words; 'do everything they bid you, and take their advice in all matters--especially the Dodger's, my dear.
I can finish the model for him in a very short time.
But the housemaid, too, served her term as model when Edna perceived that the young woman's back and shoulders were molded on classic lines, and that her hair, loosened from its confining cap, became an inspiration.
Had I ever met any girl in the past who would serve approximately as a model,--any girl, in fact, I would very much like to meet again?

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