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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

model

see ECONOMIC MODEL.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
It builds models using a special thermopolymer material that produces a physical model of a design concept sufficiently detailed to serve as a communications aid.
In this approach, the empirical model is (usually) used to predict the parameters of the physical model in a series configuration, as shown in Figure 6.
The physical model is exported directly from SolidWorks to the SimMechanics Second Generation [14,15].
The large-scale physical model was built with a total of six strata including one diabase, three green schists, and two coal seams, and all the strata are inclined at an angle of 0[degrees] with respect to the horizontal structure, to simulate near horizontal geological structures.
The Method of Uncertainty Minimization using Polynomial Chaos Expansions (MUM-PCE) [1-6] was developed as a software tool to constrain physical models against experimental measurements.
Boundary stress condition applied on the physical model was shown as in Figure 2.
Similarity criteria were introduced in the mechanistic study of the physical model. Meanwhile, the paper presents the contours of the oil saturation in the three-dimensional model, which is calculated using the real-time data from the electrical resistivity monitoring system.
Data collection for model set up sensitivity analysis and model validation includes detail engineering drawings, physical model study results and discharge rating curve.
He said that this physical model feasibility report could be finalised by December this year.
Obtained results are verified on the small scale physical models of prestressed suspension bridges.
By describing the complex, acausal relationships of a physical model in a clear and efficient way, MapleSim and related tools enable simplification and optimization, taming the complexity of large models and reducing development and testing time.
"The physical model we've created is based on the same technology we use to create models of car parts used by manufacturers to develop designs and test products before going into full-scale production."

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