The knowledge economy (or the knowledge-based economy) is an economic system in which the production of goods and services is based principally on knowledge-intensive activities that contribute to advancement in technical and scientific innovation. The key element of value is the greater dependence on human capital and intellectual property for the source of the innovative …

A community of practice (CoP) is a group of people who "share a concern or a passion for something they do and learn how to do it better as they interact regularly". The concept was first proposed by cognitive anthropologist Jean Lave and educational theorist Etienne Wenger in their 1991 book Situated Learning (Lave & Wenger 1991).Wenger then significantly expanded on the …

The word science has been used in Middle English since the 14th century in the sense of "the state of knowing". The word was borrowed from the Anglo-Norman language as the suffix -cience, which was borrowed from the Latin word scientia, meaning "knowledge, awareness, understanding".It is a noun derivative of the Latin sciens meaning "knowing", and undisputedly …

Finance is the study and discipline of money, currency and capital assets.It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly …

Part of the reason that Hayek stressed the knowledge problem was also because he was mainly concerned with debating the proposal for market socialism and the Lange model by Oskar R. Lange (1938) and Hayek's student Abba Lerner (1934, 1937, 1938) which was developed in response to the calculation argument. Lange and Lerner conceded that prices ...

The fourth route taken, based in economics, was developed and furthered economic knowledge as a hard science. The last path was the correlation of knowledge and social values; the antipositivism and verstehen sociology of Max Weber firmly demanded this distinction. In this route, theory (description) and prescription were non-overlapping formal ...

In computer science and information science, an ontology encompasses a representation, formal naming, and definition of the categories, properties, and relations between the concepts, data, and entities that substantiate one, many, or all domains of discourse.More simply, an ontology is a way of showing the properties of a subject area and how they are related, by defining a set of …

Engineering is the use of scientific principles to design and build machines, structures, and other items, including bridges, tunnels, roads, vehicles, and buildings. The discipline of engineering encompasses a broad range of more specialized fields of engineering, each with a more specific emphasis on particular areas of applied mathematics, applied science, and types of application.

Behavioral economics studies the effects of psychological, cognitive, emotional, cultural and social factors on the decisions of individuals or institutions, such as how those decisions vary from those implied by classical economic theory.. Behavioral economics is primarily concerned with the bounds of rationality of economic agents.Behavioral models typically integrate insights from ...

Agricultural economics is an applied field of economics concerned with the application of economic theory in optimizing the production and distribution of food and fiber products. Agricultural economics began as a branch of economics that specifically dealt with land usage.It focused on maximizing the crop yield while maintaining a good soil ecosystem. ...