ABSTRACT
Value is a reflection of current circumstances, a deeply personal construct that resides in our intrinsic motivation. This chapter explores few value dimensions, specifically focusing on categories best described as intrinsic value, extrinsic value and reference value. Intrinsic value is the value that we assess when we are looking at an object, be that an idea – an object for the mind – a physical object, a space or an item of food. Extrinsic value is value external to the object, a material or immaterial value assigned by others. Reference value is an attribute inclusive of both intrinsic and extrinsic value. The value dimensions described merged with the system of objects, form the conceptual framework of the Hierarchy of Values. The first value is the functional value. The second value is the exchange value of objects, which is potentially their economic value. The final value is the Sign Value of an object.
