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 periodicals archive ?
With AIR Worldwide Corp's recently enhanced storm-surge subcomponent to its model, damage from winds and storm surge are estimated for every hurricane it simulates, said Dr.
Applications: Certain models specialized for narrow-neck bottles, wide-mouth jars, PP bottles, or high output capacity.
The legacy model is elegant in its simplicity--simplicity that makes it easy to remember while conveying some of the complexities of the systems engineering problem-solving methodology--such as its iterative and recursive nature.
Arsenic is unquestionably a human carcinogen and there was no animal model.
Under this approach the option value (and related compensation expense) was based on the market price of an option with the same or similar terms (when available) or estimated using an option pricing model (applicable to most companies).
Another way of looking at this same set of issues is the observation that many people, modelers and nonmodelers alike, seem to believe that one "right" model exists.
Both surveys included questions based on the review of literature, which found that having a Deaf Role Model involved in an Early Intervention Program could lead to:
The solution is cast as the result of an imaginary two-player game in which a fictional opposing player maliciously chooses the worst possible model for the agent.
The evaluation process is easier and more direct than simply looking at a component model and attempting to imagine the corresponding die.
Then we discuss two classical statistics models, a nonexistent laboratory-effects model and a random laboratory-effects model, based on Assumption I.
The BSM model values call options on publicly-traded common stocks, assuming that the options, like the stocks, trade in a liquid market," explains Finnerty.
The challenge for ASCA is to spread the model to the many states, school districts, individual schools, and practicing school counselors across the country that are currently functioning with diverse, and sometimes antiquated, school counseling programs.