System Dynamics Glossary
What is the meaning of Knowledge?
The simple dictionary definition of knowledge, that is,
knowing or familiarity gained by experience, is not sufficient for
use in risk management and decision making. Creating a precise
definition of knowledge is difficult. So, what is
knowledge is distinguished from what is not. Knowledge is a pluralistic concept. No one framework can
capture its facets and its richness. It is not data,
nor information. It exists only in human minds and cannot
be stored directly or completely in computers or in any
Knowledge cannot be communicated directly unlike
data, and information, which can be. In this thesis, both
cognitive mapping and concept mapping are used as intellectual devices
with aims of representing and recording facets of knowledge. Churchman (1971) explains that knowledge and information
are distinct entities; knowledge resides in the user
of information and not in the collection of information; it
is how the user reacts to the collection of information
that matters. Jarvis (1999) comments that information becomes knowledge when it is understood or comprehended at a deeper
level as a result of human mental activity involving perhaps
the further analysis of information including association with other data
or information. Such knowledge can lead to purposeful
human activity, in particular decision-making.
Books Related to Knowledge
Neal Boortz and
John Linder, "The FairTax Book".
—More information on The
John C. Hull, "Options, Futures and Other Derivatives (6th
—More information on Options, Futures and Other Derivatives
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