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Analysing the values theories of the nineteenth century, there is a remarkable difference between German and English theories: the idea of subjective value is a very German idea, from the beginning of the nineteenth century, ignored by textbooks of the history of economic thought. The German conception of subjective value is subjective, but not individualistic, and is different from the marginalistic conception of value later on. In the German tradition ‐ Hufeland, Lotz, Rau, Hermann, Knies, Wagner, etc. ‐ the value theory deals with “meaning”. The economic actor is able to choose subjectively, but in the context of a collective meaning. We get some new insights into the very German idea of a social economy.

The purpose of this paper is to propose a model suggesting that innovation may act as a motivating force that increases entrepreneurs’ growth expectations, in which entrepreneurs’ growth expectations are shaped by their subjective values and entrepreneurial experience moderates this relationship.

This paper conducts statistical analysis on a sample of 11,579 entrepreneurs from 24 countries who participated in the IIIP survey of innovation in 2011 under the Global Entrepreneurship Monitor project.

The results suggest that entrepreneurs involved in innovative entrepreneurship are more likely to have higher growth expectations, with subjective values playing a direct and indirect role in entrepreneurs’ expectations of firm growth. Additionally, the results indicate that the duration of entrepreneurial experience moderates the relationship between strategic orientation and confidence in innovation. This finding suggests there is feedback between having beliefs about the benefits of innovation and being an innovative entrepreneur, resulting in an over-estimation – at least in comparative terms – regarding firm growth rates. This relationship is stronger for novice entrepreneurs since experienced entrepreneurs tend to be more cautious about their expectations of growing.

This study deepens our understanding of the complex processes through which organizational-level decisions ultimately influence individual-level factors. The present findings contribute to progress in this task by suggesting that strategies aimed at cultivating innovation feed entrepreneurs’ subjective values of innovation as well as expectations of growth. Although the duration of entrepreneurial experience moderates the relationship between acting as an innovative entrepreneur and subjective values of innovation, the results suggest that entrepreneurs’ expectations are primarily driven by their internal perceptions of reality.

Purpose – The purpose of this paper is to estimate the cost of granting executive stocks with strike prices adjusted by the cost of capital. Design/methodology/approach – In the paper a Monte Carlo simulation approach developed in Longstaff and Schwartz is used in conjunction with the subjective valuation model developed in Ingersoll to value these executive stock options that are subject to performance hurdles. Findings – The paper finds that standard European Black‐Scholes‐Merton option values overstate the true cost to the firm of granting these executive stock options. The option values also decrease with a higher dividend yield, a higher performance hurdle, a longer vesting period, and a shorter maturity. Research limitations/implications – While the study in the paper is limited to the valuation of executive options, the methodology can be used to study incentive effects of executive stock options that have a performance hurdle. Practical implications – The approach used in this paper to estimate the cost of granting executive stock options is a clear improvement over standard European option pricing approaches that often result in biased estimates. Originality/value – This paper presents a first attempt to integrate the Ingersoll utility‐theoretic model and the Longstaff and Schwartz least squares Monte Carlo algorithm to estimate the subjective value and the objective cost of executive stock options with a performance hurdle. This valuation approach will be useful in the study of other types of executive compensation.

The purpose of this paper is to analyze the relationship between the warm/cool feeling of the heat properties of fabrics and the subjective evaluation of the quality of ladies' garment fabrics.

Regression analysis is conducted using stepwise block regression applied to the expert judges' judgment value total hand value, using six blocks of the mechanical properties and one block of the initial maximum values q_max of the heat flux of the heat properties of spring and summer tailored‐type jacket fabrics, as the seven blocks of fabric properties, including the secondary term of each property.

The results of the regression analysis show that the q_max values do not affect the subjective evaluation of the quality of spring and summer tailored‐type jacket fabrics. The results of the regression analysis of ladies' knitted fabric properties applied to the subjective evaluation value have confirmed that the q_max values affect the subjective evaluation of the quality of ladies' knitted fabrics.

This paper usefully describes the relationship between the warm/cool feeling of fabric and the subjective evaluation of the quality of ladies' knitted fabrics.

Menger′s Grundsätze is explored; the Aristotelian background of the discourse is probed, as is the problematic image of Menger sketched in the secondary literature as soon as it is confronted with this Aristotelanism and with the subjective value theory and the motif of time, error and uncertainty. The conflicting elements of this picture are pieced together.

This paper sets out to present the concept of the value of information, review the descriptive, rational, social and behavioral approaches for assessing the value of information, and explain why user‐centered rather than information‐centered evaluations are the most relevant.

The paper starts by highlighting the main facets and market characteristics which influence the value of information. Next, four approaches to assessing the value of information are explained, including a discussion of advantages and limitations of each approach. The approaches reviewed include descriptive, rational, social and behavioral research. Finally, an information value assessment recommendation is given and a theoretical framework is offered.

The descriptive approach is useful in raising new angles for theory development. The rational approach assumes that the value is inherent in information and offers models that describe how information should be valued. The social perspective suggests that markets are enhanced by social activity. The behavioral aspect teaches that value perception changes by person and circumstance and is a key influence on information markets.

This paper offers a concentrated multi‐dimensional theoretical basis on a topic of central importance to anyone interested in Internet research, information consumption and production. Theory offered here constitutes a basis for a large number of potential empirical research endeavors.

Generation Y consumers are the key drivers for luxury market growth in the future. Yet, very few studies have been performed to understand Gen Y consumers' luxury consumption behavior, mainly in context of emerging markets like India. The main objectives of this study are first, to develop a conceptual framework which integrates the role of key variables that influence Gen Y consumers' purchase intention for luxury goods. Second, to analyze the mediating effect of attitude and subjective norm on the relationship between conspicuous value and luxury purchase intention.

Data were collected through structured questionnaires from a sample of 215 Gen Y luxury fashion consumers in India. Collected data were analyzed through confirmatory factor analysis (CFA) and Hayes Process macro in SPSS.

The findings revealed that attitude and subjective norm partially mediated the relationship between conspicuous value and luxury purchase intention. The findings also demonstrated that mediation effect significantly differs between consumers with low and high need for status as well as consumers with low and high need for uniqueness.

This is the first study performed to understand the mediating and moderating effect of various contextual variables (namely, attitude, subjective norm, uniqueness value and status value) on the association between conspicuous value and luxury purchase intention. This study will have important implications for both academicians and practitioners.

The purpose of this paper is to provide a more complete theoretical model of retail e‐learning assessment module use. The location (i.e. onsite versus offsite) of assessment and prior experience is treated as moderators between motivation/intention, uses, and value; and differences between subjective and objective value are investigated.

An exploratory, semester‐long, single‐course experiment was conducted using students (n=37) from Mexico and the USA enrolled in a retail‐focused marketing course at a university located near the border between the two countries.

Extrinsic and intrinsic motivations predict participants' use of e‐learning assessment modules. The objective and subjective value of assessment is strongly impacted by the individual's prior performance. Location of assessment moderator is significant.

In addition to focusing on intrinsic and extrinsic motivations, retailers should also consider the possibility that prior experience and location of assessment can affect use and value. Prior experience levels of the participants were found to affect use. Retailers are cautioned not to assume mistakenly that increased use of e‐learning assessment modules results in lower performance. Rather, people that performed better in the past are less likely to use the modules. It is also found that when individuals can take the assessments offsite (e.g. at home, on the road), there is a positive impact on both objective and subjective performance. Retailers should examine the potential of permitting employees to take assessments from home (over the internet) or other remote locations.

The paper highlights the fact that many retailers have adopted e‐learning assessment technologies that include options for either onsite assessment (e.g. kiosks/PCs in human resource/training rooms) or offsite assessment that operations management and corporate staff can perform outside the office. However, little is known about what motivates people to use e‐learning assessment, and how it affects performance across these two locations for assessment. Moreover, knowledge of how location of use influences the relationships is currently missing.

In this monograph the author discusses the problems in constructing a logical and ethical‐empirical foundation so that relevant social values may be studied by the scientific method. Part One is concerned with the difficulties posed by the prevailing methodology. Part Two presents a new research programme based on the simultaneous equilibrium versus disequilibrium approach in conjunction with Wittgenstein's logic and the current research in ethics.

The economic science is again in a crisis and a new solution prolegomena to any future study in economics, finance and other social sciences has just been published by the International Institute of Social Economics in care of the MCB University Press in England. The roots of the major financial and economic problems of our time lie in an open conflict between theory and practice. In the 1930s and before the conflict was between classical theory and given realities. In the 1990s the conflict appears between the now prevailing modern, Keynesian theory and the actual realities. In addition during the twentieth century a great argument developed between the two schools of thought, argument which is not yet settled. In one sentence, the prolegomena tried and was successful to solve the conflict between theory and practice and the big doctrinal dispute of the twentieth century. It was a struggle of research and observation over half a century between 1947 and 1997.