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deterministic model

   Also found in: Dictionary/thesaurus, Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
deterministic model
one in which each variable changes according to a mathematical formula, rather than with a random component.


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The estimated probabilities of the uncontrollable transitions are used as expectations of future transition probabilities and thus we effectively assume a deterministic model with two classes of transitions fixed and controllable.
Unlike deterministic models that project a fixed number of likely worst-case scenarios, state-of-the-art stochastic models used in economic capital modeling can generate thousands of random simulations.
On the other hand, because drivers are not predictable, averaging using probabilistic models has virtues that a deterministic model does not.
 
 
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