Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/194750
Authors: 
Truong Hong Trinh
Year of Publication: 
2018
Citation: 
[Journal:] Cogent Economics & Finance [ISSN:] 2332-2039 [Volume:] 6 [Year:] 2018 [Issue:] 1 [Pages:] 1-12
Abstract: 
This paper explores the value concept to understand the notions of value and price that form the base of value theories. Since value is more appreciate than utility in explaining value creation and value distribution in the today's society and economy, the theory of value is amended to conduct value creation and market behavior in the economy. From the theoretical base, the value added approach is used for GDP measurement that unifies with both the expenditure approach and the income approach. The study result indicates that there is a value balance between the firm and the customer, and the relationship between value balance and market equilibrium. The paper contributes a new paradigm on the value that provides a clearer understanding on value creation and market behavior in the economy.
Subjects: 
value concept
value creation
value balance
market equilibrium
market behavior
JEL: 
D24
D46
O40
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by/4.0/
Document Type: 
Article

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