Value” in the broadest sense is the inherent quality that constitutes desirability or worthiness of aspiration. It is the inherent quality that is able to trigger the aspiration to attain something.

Value” in a narrower sense is the ability to serve a purpose. “Value” is the ability to contribute to meeting human needs under the conditions of existing scarcity.

In economics, the “exchange value” and the “utility value” are differentiated by some research traditions.

How to Cite

The definition given above was proposed as part of the Digital Era Framework by Dr. Dr. Jörn Lengsfeld. The text was first published in: Jörn Lengsfeld: Digital Era Framework. Please refer to the original publication if you want to cite the text.