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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 ?
RSEI is a very powerful tool," says George Lucier, an advisor to the National Toxicology Program, who has reviewed the model.
During the on-site examination, the professional team reviews all aspects of the model, including public as well as proprietary information.
adhere to one another through thermal fusion to form the model.
It's an evolving situation, not only from the standpoint of how the models work, but from the science underlying a lot of the modeling," said Patrick Musick, assistant vice president, property/casualty, with the Alliance of American insurers.
The model is extensively tested against performed and documented cupola operational data.
Once the disease states are defined, the different transmission pathways to be modeled determine the details of the model structure.
In making the decision, a company should consider these questions: Do internal resources have the adequate capabilities and is the opportunity cost of dedicating resources to building the model commensurate with benefit?
The model is the centerpiece of the new "BC Experience" geographic discovery center, and is located under the beautiful glass-and-iron canopy of the Crystal Garden.
Because these physical factors can either inhibit or promote carcinogenesis, the model introduces the idea of probability.
Other tool solutions use test scripts to validate each model produced, resulting in needless iterations of modeling because the models themselves are not fully controlled by the domain and thus many flawed designs can be produced before a set of valid options is collected for best choice for deployment considerations.
Agilent engineers developed an integrated nonlinear transit-time and charge storage formulation for the model, removed discontinuities and integrated the new model into its Advanced Design System EDA software.
Added the ability to retrieve the volume of a region, and the units of the model