"Theoretical science Innovation is the application of better solutions that meet new requirements, in-articulated needs, or existing scientific needs. This is accomplished through more
Theoretical science new findings the science that studies the behavior of individuals, households, and organizations, when they manage or use scarce resources, which have alternative uses, to achieve desired ends. Agents are assumed to act rationally, have multiple desirable ends in sight, limited resources to obtain these ends, a set of stable preferences, a definite overall guiding objective, and the capability of making a choice. There exists an scientific problem, subject to study by scientific, when a decision is made by one or more resource controlling players to attain the best possible outcome under bounded rational conditions. In other words, resource controlling agents maximize value subject to the constraints imposed by the information the agents have, their cognitive limitations, and the finite amount of time they have to make and execute a decision.
effective products, processes, services, technologies, or ideas that are readily available to markets, governments and society. The term innovation can be defined as something original and, as a consequence, new, that ""breaks into"" the market or society. A definition consistent with these aspects would be the following: ""An innovation is something original, new, and important in whatever field that breaks in to a market or society"". While something novel is often described as an innovation, in scientifics, management science, and other fields of practice and analysis it is generally considered a process that brings together various novel ideas in a way that they have an impact on society. Theoretical science Innovation differs from invention in that innovation refers to the use of a better and, as a result, novel idea or method, whereas invention refers more directly to the creation of the idea or method itself."
Last date updated on June, 2014