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Value (ethics), concept which may be construed as treating actions themselves as abstract objects, associating value to them Axiology , interdisciplinary study of values, including ethical values Social imaginary , set of values, institutions, laws, and symbols common to a particular social group
Ethical issues that value may be regarded as a study under ethics, which, in turn, may be grouped as philosophy. Similarly, ethical value may be regarded as a subgroup of a broader field referred to as axiology. Ethical value denotes something's degree of importance, with the aim of determining what action or life is best to do, or at least ...
The economic value of a good or service has puzzled economists since the beginning of the discipline. First, economists tried to estimate the value of a good to an individual alone, and extend that definition to goods that can be exchanged. From this analysis came the concepts value in use and value in exchange.
Value theory is the interdisciplinary study of values.Also called axiology, it examines the nature, sources, and types of values.Primarily a branch of philosophy, it is an interdisciplinary field closely associated with social sciences like economics, sociology, anthropology, and psychology.
Value renewal also includes steadily updating value, where by adding new features to existing value preposition customer value is increased. [ 16 ] Value transfer: At the last stage of the value cycle, there is a possibility that a customer transfers the acquired value after its consumption.
The value of labor, in this view, covered not just the value of wages (what Marx called the value of labor power), but the value of the entire product created by labor. [ 18 ] Ricardo's theory was a predecessor of the modern theory that equilibrium prices are determined solely by production costs associated with Neo-Ricardianism .
Anthropological theories of value attempt to expand on the traditional theories of value used by economists or ethicists.They are often broader in scope than the theories of value of Adam Smith, David Ricardo, John Stuart Mill, Karl Marx, etc. usually including sociological, political, institutional, and historical perspectives (transdisciplinarity).
Market value or OMV (Open Market Valuation) is the price at which an asset would trade in a competitive auction setting.Market value is often used interchangeably with open market value, fair value or fair market value, although these terms have distinct definitions in different standards, and differ in some circumstances.