I do not define Time, Space, Place and Motion, as being well known to all. Only I must observe, that the common people conceive those quantities under no other notions but from the relation, they bear to sensible objects. And thence arise certain prejudices, for the removing of which, it will be convenient to distinguish them into Absolute and Relative, True and Apparent, Mathematical and Common - Issac Newton, Philosophiae Naturalis Principia Mathematica, Book I, def. VIII, scholium. From The Order of Time, Carlo Rovelli, Riverhead Books, 2017
In the presence of irreducible and reducible uncertainties of nature, as well as the projects we work, calculating the mathematical outcomes from our decision means making estimates. This is an immutable principle of probabilistic decision making that informs the microeconomics of software development which is the study of individuals and firms' behavior in decision making and allocation of scarce resources (time, treasure, and talent).
Software is only valuable when it produces information that enables people and systems to meet their objectives more effectively. Software development techniques have value when they enable software developers to build more valuable software. Software economics is the field of software development management that seeks improvements which enable software developers to reason more effectively about important economic aspects of software they are developing, including cost, benefit, risk, opportunity, uncertainty, incomplete knowledge and the value of additional information, implications of competition, and so forth. "Software economics: status and prospects," B. Boehm, K. Sullivan, Information and Software Technology 41 (1999) pp. 937–946
