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 ?
Bereiter and Scardamalia (1996) argue that the connectionist view is a more enlightened theory than the account of understanding provided by the symbolic model.
When considering a sweater worn by good or bad people, they tended to use the symbolic model.
The model checker is an advanced research tool developed by Ken McMillan of Cadence Berkeley Labs and is based on the Symbolic Model Verification (SMV) language.

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