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Durability is the ability of a physical product to remain functional, without requiring excessive maintenance or repair, when faced with the challenges of normal operation over its design lifetime. [ 1 ] : 5 There are several measures of durability in use, including years of life, hours of use, and number of operational cycles. [ 2 ]
This topic is called reliability theory, reliability analysis or reliability engineering in engineering, duration analysis or duration modelling in economics, and event history analysis in sociology. Survival analysis attempts to answer certain questions, such as what is the proportion of a population which will survive past a certain time?
"Uncertainty, Evolution, and Economic Theory" drew criticism from Sidney G. Winter; he argued that Alchian failed to consider the transmission mechanisms that determine successful behaviors, and how they can be maintained and copied over time. According to Winter if maximizing profits is not a result of conscious action, then those particular ...
In economics, a durable good or a hard good or consumer durable is a good that does not quickly wear out or, more specifically, one that yields utility over time rather than being completely consumed in one use.
Survivability denotes the ability of a ship and its on-board systems to remain functional and continue designated mission in a man-made hostile environment. [5] The naval vessels are designed to operate in a man-made hostile environment, and therefore the survivability is a vital feature required from them.
Evolutionary economics is a school of economic thought that is inspired by evolutionary biology.Although not defined by a strict set of principles and uniting various approaches, it treats economic development as a process rather than an equilibrium and emphasizes change (qualitative, organisational, and structural), innovation, complex interdependencies, self-evolving systems, and limited ...
Economics and Human Biology is a quarterly peer-reviewed academic journal published by Elsevier. It was established in 2003 with J. Komlos as founding editor-in-chief . The journal covers research on biological economics — economics in the context of human biology and public or occupational health .
Economic methodology has gone from periodic reflections of economists on method to a distinct research field in economics since the 1970s. In one direction, it has expanded to the boundaries of philosophy , including the relation of economics to the philosophy of science and the theory of knowledge . [ 18 ]