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21-23 MARCH 2017

Final OpenNESS Annual Meeting in Smolenice, Slovakia

Value

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.

Source: 

After UK NEA (2011), Mace et al. (2012) and De Groot, (2010)

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