model

(redirected from descriptive model)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.

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 ?
First, we might wish to build descriptive models of fact-finding to better understand the fact-finding behavior of real-world juries and judges.
On the other hand, although he asserted that the characteristics of the manager's job had not changed, his newer integrative descriptive model of the contents of the managerial job was only partially associated with the original ten roles.
What are the objects of these descriptive models? These are just some questions that help to understand the ambiguous nature of time in widely spread spatial metalanguage.
The purpose of this article is to address this gap in the outsourcing literature by presenting a data-driven descriptive model of the logistics outsourcing strategy development process.
A map, a model car, or a documentary of an event could all be considered descriptive models. In terms of spatial analysis, we can use the soil loss equation as an example of descriptive modeling.
Engel's biopsychosocial model was a descriptive model to understand patients' illness experiences and, in that way, assist and expand the diagnostic process.
Summary of Descriptive Model Fit for Heavy TV Cable Cumulative Sales Cumulative Average No.
As it stands, this book remains limited to an historically sensitizing descriptive model that only partially explains an historical experience.
Direct effects of environmental variables on species density were also conspicuous in the descriptive model. We have argued that these represent environmental gradients in the species pool that can strongly limit potential species density (Gough et al.
It is emphasized that it is this two-level notion attained by the introduction of C which distinguishes the COAT model from other frameworks in the IS literature: `It is not a would-be descriptive model of IS.
- a "constant" descriptive model with "ad hoc" specific parameters for each cell in the mobility tables compared; since the specific parameters of these cells are the same from one period to the next, its main advantage is to test the hypothesis that immobility and mobility remained constant between 1851 and 1951; according to the results in line 2 of Table 3, this model fits the data very well: 1) had we used a probability sample, its G2 could not be considered statistically significant, 2) its BIC value is a large negative and, 3) its rG2 indicates that a constant model can describe 88% of the variations in mobility unexplained by the reference model 1;
Where for other markets it might be sufficient to employ a descriptive model with both quantitative and qualitative attributes, and utilize a simulation-oriented approach in order to examine market behavior under different circumstances, the IT&T market obeys a set of nonhomogeneous rules and laws that act in such ways so that forecasting is not trivial to perform even in cases where - in other application domains - well-established forecasting techniques would be employed and stereotypical decision-making procedures be used without any reconsideration.

Full browser ?