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21-23 MARCH 2017

Final OpenNESS Annual Meeting in Smolenice, Slovakia

OpenNESS Glossary beginning with V

V

Valuation search for term

The process whereby people express the importance of or preference they have for the services or benefits that ecosystems provide. Importance or value can be expressed in monetary or non-monetary terms. See 'monetary valuation' and 'non-monetary valuation'.

Value search for term

The worth, usefulness, importance of something. Thus value can be measured by the size of the well-being improvement delivered to humans through the provision of good(s). In economics, value is always associated with trade-offs, i.e. something only has (economic) value if we are willing to give up something to get or enjoy it.

Value System search for term

Norms and precepts that guide human judgments about value and action.

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