who came up with the value theory?
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The modern subjective theory of value was created by William Stanley Jevons, Léon Walras, and Carl Menger in the late 19th century. The subjective theory contradicted Karl Marx's labor theory which stated an item's value depends on the labour that goes into production and not the ability to satisfy the consumer.
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According to the standard account, C.S. Peirce gets credit for first proposing a pragmatic theory of truth, William James is responsible for popularizing the pragmatic theory, and John Dewey subsequently reframed truth in terms of warranted assertibility (for this reading of Dewey see Burgess & Burgess 2011: 4).
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... The agency theory was first introduced by Stephen Ross and Barry Mitnick in 1973 (Mitnick 2013 and is characterized through the conflict of interest between principal (owners) and agents (managers), known as an "agency problem".
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A consequentialist theory of value judges the rightness or wrongness of an action based on the consequences that action has. ... A non-consequentialist theory of value judges the rightness or wrongness of an action based on properties intrinsic to the action, not on its consequences.
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The theory of human capital is rooted from the field of macroeconomic development theory (Schultz, 1961). The human capital theory suggests that individuals and society derive economic benefits from investments in people (Sweetland, 1996) .
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In economics, the consumption function describes a relationship between consumption and disposable income. The concept is believed to have been introduced into macroeconomics by John Maynard Keynes in 1936, who used it to develop the notion of a government spending multiplier.
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Goals are targets. Values are the base upon which we run our lives. Values are how you see the world, what you see as important, what you believe.
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Value in this context is the ratio between benefit (outputs) and the cost or effort (inputs) required to achieve it. Value management and value engineering are both concerned with increasing this ratio, but are often separated in terms of their timing and their scale.
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McClelland achievement and acquired needs theory. In his in his 1961 book 'The Achieving Society', David McClelland expounds on his acquired-needs theory. He proposed that an individual's specific needs are acquired over time and are shaped by one's life experiences. He described three types of motivational need.
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Conflict theory, first purported by Karl Marx, is a theory that society is in a state of perpetual conflict because of competition for limited resources. Conflict theory holds that social order is maintained by domination and power (rather than consensus and conformity).
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On this subjective intrinsic value view, something has intrinsic value if it is valued for what it is, rather than for what it can bring about. Subjective intrinsic value is created by valuers through their evaluative attitudes or judgments — it does not exist prior to or independent from these.
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['U00.', 'U01. Three types of values.', 'U02. Intrinsic values.', 'U03. Facts and moral values.', 'U04. Religion & morality.', 'U05. Relativism & absolutism.', 'U06. Reflective equilibrium.', 'U07. A quiz about moral relativism.']
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The theory of do ut des is that we give the Gods something of worth, and in exchange, we receive from Them something of value, which results in us giving more worth to the Gods, which results in receiving something else of value, and so forth.
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There are three dimensions of value: universally human, cultural that vary with societies and times; and personal that vary with individuals. Each dimension has a standard for judging the adequacy of the relevant values.
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The value of a good or service depends on its scarcity and utility. The good must have utility and value to have monetary value. Wealth is the accumulation of these tangible and useful goods.
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Marx distinguishes between the use-value and the exchange value of the commodity. Use-value is inextricably tied to "the physical properties of the commodity" (126); that is, the material uses to which the object can actually be put, the human needs it fulfills.
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In Value Iteration - You randomly select a value function , then find a new (improved) value function in an iterative process, until reaching the optimal value function , then derive optimal policy from that optimal value function . Policy iteration works on principle of “Policy evaluation —-> Policy improvement”.