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 classic literature ?
So that it was the Psychologist himself who sent forth the model Time Machine on its interminable voyage.
I've heard that Burgess himself he made the models fer three or four of 'em, Dad's sot ag'in' 'em on account o' their pitchin' an' joltin', but there's heaps o' money in 'em.
The rudder is also very much larger, in proportion, than that of the model ; and the screw is considerably smaller.
Turveydrop underwent a severe internal struggle and came upright on the sofa again with his cheeks puffing over his stiff cravat, a perfect model of parental deportment.
When Philip entered, the people in the studio had looked at him curiously, and the model gave him an indifferent glance, but now they ceased to pay attention to him.
Grubb routed out his flying-machine model again, tried it in the yard behind the shop, got a kind of flight out of it, and broke seventeen panes of glass and nine flower-pots in the greenhouse that occupied the next yard but one.
Their chief models for tragedy were the plays of the first-century Roman Seneca, who may or may not have been identical with the philosopher who was the tutor of the Emperor Nero.
You may find a model of the lesser in the greater, I said; for they are necessarily of the same type, and there is the same spirit in both of them.
But though he had, as we have said, formed his morals on the Platonic model, yet he perfectly agreed with the opinion of Aristotle, in considering that great man rather in the quality of a philosopher or a speculatist, than as a legislator.
Fentolin promised, "I will show you my little model at work.
In the wealthy Kashinsky province, which always took the lead of other provinces in everything, there was now such a preponderance of forces that this policy, once carried through properly there, might serve as a model for other provinces for all Russia.
He intended every child in it to be a model - just as the young Gradgrinds were all models.