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Research draft

economic value

vr.tr.economic-value · INF.KNW

Let an agent explain economic value concepts, valuation methods and theories with attribution, without giving personal investment advice or formal valuations.

Thing Registry Information and virtual systems

Research draft, second pass

A second pass drafted this model: the structure a model of this thing needs, and what is known about it in the world. The line under this one says how the second half was obtained - researched against sources, or recalled without web access, in which case nothing here was read anywhere and every claim is a lead to verify. Unreviewed either way.

written by Claude from model knowledge without web access - no source was read, every claim is a lead to verify

Researched by: Claude

Purpose and description

Let an agent explain economic value concepts, valuation methods and theories with attribution, without giving personal investment advice or formal valuations.

A measure of the benefit that a good, service or asset provides, expressed in money or other terms, including use value, exchange or market value, present value of future cash flows and non-market values such as natural capital; theories of value differ between schools of economics.

What it is for: Economics, accounting, policy appraisal and business decisions.

It can be distinguish use value, exchange value and market value; calculate present value in general terms; explain non-market valuation methods; summarise theories of value with attribution.

Distinguishing features

Measures benefit or worth

Several definitions

Context-dependent

Theories differ

What it looks like

Not physical; expressed as prices, valuations and appraisal figures.

How it is recognised

Prices and valuations

Discounted cash flow figures

Values as moral principles are a different sense

Related models

is a kind of - category

value

is measured by - method

valuation

is related to - related concept

price

is contrasted with - another sense

value (principle)

In practice

Families and kinds

use value

exchange and market value

present and future value

real and nominal value

non-market and natural capital values

Standards and regulation

International Valuation Standards

IFRS 13 Fair Value Measurement

Government appraisal guidance

Failure modes and hazards

Confusing price with value

Ignoring inflation in comparisons

Agents giving investment advice or formal valuations

Also called

corporate shuttle bus serviceBuluse valuereal valuenatural valuepresent valuecustomer lifetime valuefiscal valuehouse valueassessed valuefair valuevalue addedcurrency value rangenet asset valuevalue creationbook valuecapital gaintime value of moneymarket valuenet present valuenet worthexchange valuecustoms valuecash valuescrap valuenominal valueTotal economic valuesurplusmelt valueeconomic rental valuemoney amountsurplus valueintrinsic valueshareholder valuereplacement valueOphelimityactual cash valuebequest valuebrand equityfair market value

+26

Where this came from

wikidata · CC0 1.0

Source repository Registry entry point

Drafted structure

Bundle to layer to finding to question, as the second pass will find it: 4 bundles · 8 layers · 8 findings · 16 questions.

Concepts Kinds of value.

Definitions differ.

Type

Which value.

Type

Value type.

  1. Is use, exchange, market or fair value meant? definition
  2. Which definition applies in this context? provenance

Real

Real and nominal.

Real

Real and nominal.

  1. Is the value real or nominal, and which price index adjusts it? measurement
  2. For which base year? provenance
Methods Valuation.

Methods need assumptions.

Present value

Discounting.

Present value

Present value.

  1. What is the present value of these cash flows at this discount rate? measurement
  2. How sensitive is it to the rate? boundary

Non-market

Environmental valuation.

Non-market

Non-market valuation.

  1. How are non-market values estimated, such as by stated preference or travel cost methods? definition
  2. What are their limits? boundary
Theory Schools of thought.

Theories differ.

Schools

Value theories.

Schools

Value theories.

  1. How do labour theories and subjective theories of value differ, according to economists? provenance
  2. Who proposed them? provenance

Debates

Current debates.

Debates

Current debates.

  1. What are current debates about measuring value beyond GDP? provenance
  2. Are views attributed? boundary
Limits Agent conduct.

No personal advice.

Advice

Investment and valuation.

Advice

Advice limits.

  1. Is the user asking what their asset is worth for a transaction or investment decision? boundary
  2. Should a qualified valuer or adviser be consulted? action

Teaching

Examples.

Teaching

Teaching.

  1. Which simple examples illustrate these value concepts? action
  2. Which textbooks explain them? provenance

What the second pass must settle

  • Should value types be separate entries?
  • How should valuation standards be linked?
  • How should theories be attributed?
Draft as JSON