# model

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Related to deterministic model: stochastic model, probabilistic model

## 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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Finally the corresponding deterministic models are obtained from the estimated parameters and the average infected levels are plotted in Figure 4.
It is generally assumed that due to the higher resolution of the deterministic model compared to the ensemble, the deterministic model is more valuable in the first few hours of prediction.
In this case, deterministic model predicts with certainty disease outbreak while the stochastic model has a probability of disease extinction at the beginning of an infection.
Deterministic models calculate path loss based on environmental details, such as distance [18].
The last issue to model stochastic epidemic system is to perturb around the positive equilibria of deterministic models (see, e.g., [1, 8, 9] and the references cited therein).
The first one concerns deterministic models (see, e.g., [9, 12, 13]).
This is because all of the data used were considered in average for the deterministic model, mean time to breakdown and repair of machinery, average frequency of customer demand, medium batch production.
Deterministic model, called RMC (Radio Microcell), for ultra high frequency (UHF) radio propagation is proposed in research paper [6].
Keywords: derivative free methods penalty function war planning problem deterministic model unconstrained optimization 1.
Taking cue from the animating notion of "new materialism," we attest to the re/ationa/ perspective on a trans-human materiality that relies decisively on assemblage, network and flow of agential forces, resists and dispels the deterministic model of mechanically mastering and consuming resources as if they were merely trite, static, and robotically responsive.
A Deterministic Model Incorporating Chain Length Effects
We name the above model as the deterministic model. To further improve computational efficiency, we propose a simplified model based on this model.

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