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The Worth of GoodsValuation and Pricing in the Economy$
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Jens Beckert and Patrik Aspers

Print publication date: 2011

Print ISBN-13: 9780199594641

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780199594641.001.0001

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What’s Valuable?

What’s Valuable?

(p.318) (p.319) 14 What’s Valuable?
The Worth of Goods

David Stark

Oxford University Press

This book has suggested that valuation cannot be reduced to pricing. It has addressed the opposition between calculation and judgment, as well as the ways in which value and values are frequently entangled. In this concluding chapter, John Dewey's notions of price, prize, and praise are discussed along with performance. The chapter focuses on the use of a method of passive use damage evaluation based on a ‘contingent valuation survey’ to determine the price that Exxon paid in the ultimate settlement over the 1989 Exxon Valdez oil spill off Alaska's Prince William Sound. It then considers consumer ratings and rankings that provide new sources of data on prizing and appraising before turning to a discussion of the capacity of a good not simply to be appraised but to evoke a sense of surprise and amazement. It also examines valuation as performance and concludes by highlighting the distinction between ‘subjective’ and ‘objective’ approaches to the theory of value.

Keywords:   valuation, pricing, calculation, judgment, value, John Dewey, price, prize, praise, performance

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