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Value theory is the study of values.Also called axiology, it examines the nature, sources, and types of values.It is a branch of philosophy and an interdisciplinary field closely associated with social sciences like economics, sociology, anthropology, and psychology.
Which value theory holds true divides economic thinkers, and is the base for many socioeconomic and political beliefs. [11] Silvio Gesell denied value theory in economics. He thought that value theory is useless and prevents economics from becoming science and that a currency administration guided by value theory is doomed to sterility and ...
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).
Robert Schirokauer Hartman (January 27, 1910 – September 20, 1973 [1]) was a German-American logician and philosopher.His primary field of study was scientific axiology (the science of value) and he is known as its original theorist.
Extreme value theory or extreme value analysis (EVA) is the study of extremes in statistical distributions. It is widely used in many disciplines, such as structural engineering , finance , economics , earth sciences , traffic prediction, and geological engineering .
The labor theory of value (LTV) is a theory of value that argues that the exchange value of a good or service is determined by the total amount of "socially necessary labor" required to produce it. The contrasting system is typically known as the subjective theory of value .
Kluckhohn and Strodtbeck's values orientation theory (put forward in 1961 [1]) proposes that all human societies must answer a limited number of universal problems, that the value-based solutions are limited in number and universally known, but that different cultures have different preferences among them.
In contrast, the TSSI is a "single-system" interpretation since it holds that, in Marx's theory, (a) prices of outputs depend in the aggregate on the so-called "value rate of profit" (the ratio of surplus-value to capital invested), while (b) businesses' investments of capital value, and thus the values of the outputs produced, depend partly on ...