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The purpose of this paper is to propose and test a model explaining the value of event experiences.

Three versions of the explanatory model are tested by regression analysis of data from a survey of 650 visitors to a sports event.

The three model versions are significant and explain the value of event experiences with satisfactory R2 values (0.29, 0.46 and 0.68) using the concepts “Extent of visit”, “Experience intensity” and “Expenditure”. The measures of event experiences (Use-Value, Direct Use-Value as well as Indirect Use-Value) meet requirements for reliability and validity.

The paper reveals that explanatory models are basic but novel in a sports event context and provide a basis for further research. Furthermore, the definition of Indirect Use-Value has been clarified and adapted for higher relevance to destination managers focusing on event tourism.

Discusses marine environment management and maximization of the sustainable use and non‐use values of the flow of goods and services generated by that environment. Expands on the traditional economic model of fishery management to include the protection of non‐use values. Assesses international agreements made to include the protection of non‐use values of the marine environment, and examines the conflict between GATT rules and unilateral attempts to protect existence values. Proposes solutions based on the full cost pricing principle.

Considering built heritage as public goods demands a lot of planning as usually historic sites and monuments are administrated by governments. The purpose of this paper is to propose and apply contingent valuation method (CVM) for the value assessment of historic sites as public goods.

The aim of this research is to apply CVM to assess the total value as well as sub values, use and non-use values of a historic site. Ferdowsi mausoleum in Tus historic area near Mashhad city in Iran has been chosen as a case study.

The paper indicates that historic sites meet all the criteria for being considered as public goods and obtained high amount of willingness to pay proves the significance of Ferdowsi mausoleum to the people of Mashhad city and its tourists. Non-use values comprise the highest share of value and cultural identity has the highest value among non-use values.

It is recommended that CVM be applied in cost-benefit analysis of historic sites. This is useful in the process of prioritization of restoration and maintenance of historic sites and could be used by policy makers in policy crafting processes.

CVM has been used for the first time for a mausoleum and for a site in Iran and sub values have been measured for the first time for a historic site.

Doctors' labour and medicines are special necessities for human survival and evolution. Since China launched the healthcare reform, the theoretical circles' discussions have not yet clarified the respective special properties of doctors' labour and medicines as goods and the internal relations between doctors' labour and medicines at the level of the theoretical basis.

Health is a prerequisite for people's all-round development, a precondition for economic and social development and the people's common aspiration. The all-round moderately prosperous society could not be achieved without people's all-round health.

The authors believe the socialist relation between doctors' labour and medicines with Chinese characteristics should be one that is people-oriented, and the corporatization of hospitals or the capitalization of doctors' labour should be avoided.

In this paper, the authors explore the particularity of doctors' labour, particularity of medicine production, circulation, consumption and the internal relations between doctors' labour and medicines by using the analytical approach of Marxist political economy while considering the special roles of doctor's labour and medicines in the reproduction of labour power and put forward the theoretical basis for the segregation of doctor's labour and medicines.

The appearance of the present chapter six years after the publication of Marx's Capital and more than a year after its translation into Russian might seem somewhat untimely, if not entirely superfluous. Who in our country has not read Marx's works, or at least heard of him; who does not know that besides interesting and instructive facts, his work contains new and important socio-political truths? No doubt many have read it and heard of it, but I permit myself to doubt, and not only in an a priori fashion, but on the basis of extensive observation, whether many have gained from a reading of the book a clear and precise understanding of the topics which are treated therein. Are there many who have managed to distinguish in it what is significant from what is of small importance, who have noticed what constituted the core elements or the framework of the whole theoretical edifice as opposed to the detail, which serves only to decorate it, who have been properly aware, what Marx introduced that was new into the consciousness of his contemporaries, and what, on the contrary, did not belong to him, but to his predecessors? We repeat that from frequent observations we have become convinced of the contrary. With some very few exceptions, we have so far not managed to come across people who have understood the significance of Marx's researches in their entirety. Some – and these constitute the majority – are barred on the way to an elucidation of the essence of the matter by Marx's doctrine of the forms of value; others – by the difficult, and, if the truth be told, somewhat scholastic language in which a considerable part of the book is written; and others again are put off by the unaccustomed complexity of the subject and the ponderous argumentation encased in the impenetrable armor of Hegelian contradictions. And not only in Russia, but abroad as well Marx has fared no better. One only has to read reviews by some Baumert, Siebel or the reviewer in Bruno–Hildebrand's Jahrbücher, R. (presumably Rössler) to see at once that all these gentlemen possess one important advantage over the majority of Russian readers in that they not only could not, but also would not understand Marx's investigations. Thus, the above reviewer puts to Marx, among others, the following question: “we would like it if someone were finally to explain to us why the food which finds its way into the stomach of a worker serves as the source of the formation of surplus value, whereas food eaten by a horse or an ox lacks the same significance.” If such a “someone” were really to be found, in which the author of the review expresses serious doubt, then he would probably explain the matter in the following way: that economists and sociologists, to whose number Marx belongs, had to date the weakness to think that the chief object of their investigations was human society, and not the society of domestic animals, horned or otherwise, and therefore they are concerned with that surplus value which is produced by human beings. If, like Darwin, they studied natural science, they would probably have found something like surplus value among various other animals, for example, among different species of ant or bee. Generally speaking, not counting Lange's book on the worker question, and the reviews of some people directly involved with the practical consequences of Marx's ideas, the foreign press presents almost not a single line which would evince in its author the desire and the ability to understand the general significance of Marx's work. These deficiencies, especially the second one, are characteristic of even those writers, like Schäffle, who are quite favorably disposed towards Marx and are aware of his scientific achievements.

The purpose of this paper is to examine the relationship between trade integration and intra-regional business cycle synchronization using value-added trade data. Most empirical studies analyzing the relationship between trade integration and business cycle synchronization use gross trade data which suffer from double-counting. Double-counting distorts the empirical results on the estimated relationship between trade integration and business cycle synchronization. This paper explores the relationship using value-added trade data to be free from distortions caused by double-counting.

Gross trade data on exports and imports are decomposed into sub-categories following Koopman et al. (2014). Then, value-added data on exports and imports without double-counted terms are built to measure value-added bilateral trade intensity and value-added intra-industry trade intensity. Using this value-added trade intensities, the author run panel regressions for Europe and East Asian countries to examine how value-added trade intensities are correlated with output co-movements.

The paper finds that for European countries, the positive association between trade and business cycle co-movements is more evidently observed and the role of intra-industry trade increasing the business cycle synchronization is also more clearly revealed by value-added trade data. On the other hand, for East Asian countries, value-added trade data reveal that it is very uncertain whether increased trade contributes to stronger synchronization of business cycles and intra-industry trade is truly the major factor which deepens the business cycle co-movements.

First, the paper examines the relationship only by running static panel regression. There is a need to employ different methodologies such as instrumental variable regression or dynamic panel regression. Second, financial integration and policy coordination within a region are also other relevant factors which influence the intra-regional business cycle synchronization. There is a need to examine the relationship using value-added trade data with the variables measuring the degree of financial integration and policy coordination. Third, value-added trade data used in this paper has limited coverage of East Asian countries. There is also a need to extend the value-added data set to cover more countries and industries.

Most empirical literature studying the relationship between trade integration and business cycle synchronization rely on gross trade data. This paper would be the first attempt to study the relationship using value-added trade data. Duval et al. (2014) also use value-added data, but their value-added data are not supported by a solid accounting framework which decomposes a country’s gross exports into various value-added components by source and additional double-counted terms. Value-added data in this paper computed based on Koopman et al. (2014) are the total domestic value exports that are ultimately consumed abroad via final and intermediate exports. The author believes that value-added data in this paper are most relevant in estimating the relationship between trade integration and business cycle synchronization.

The purpose of this paper is to obtain evidence about the scope of the determinants of the willingness to pay (WTP) of the residents in a Spanish city (A Coruña) for keeping a professional football team (Deportivo) competing at the highest level. Apart from the individual socio-demographic characteristics of the respondents and their attitudes as football fans, the authors try to know the influence on the WTP of factors such as the general economic conditions and the plausibility of the team disappearance.

The value of the intangible benefits associated with the team existence is derived from the application of the contingent valuation method (CVM), using two surveys conducted in 2003 and 2012, respectively, with the aim of obtaining information concerning citizens’ behaviour and attitudes towards a professional football team.

The consumption of public goods generated by the local football team is relatively inelastic to the sport success and general economic situation, but the value assigned by residents to those goods depends on these factors. Of the two components of the WTP, the non-use value is especially sensitive to changes both in the Spanish economic conditions and in the quality of the public goods generated by the football team.

This is the first study that applies the CVM to a football team controlling for both the general economic conditions and the team sport success and, as such, it provides interesting insights into the nature and scope of the determinants of individuals’ WTP in a CVM setting.

Much research into housing concentrates on the dwelling as a place of shelter for the household, as a unit to accommodate basic domestic activities or as an asset to secure and facilitate social reproduction. However, the dwelling is more than an enclosed private space; it involves a diversity of indoor and outdoor spaces that house a multitude of activities to fulfil latent functions and meanings. The scarcer the resources of the residents, the more critical it is to maximize the use-value of the home environment, and key ways to add value is for the dwelling to become a place to house income generating activities, a place to produce one's food or a place to accommodate changes in household structure over time. In such cases, public and private space use within the home range is intensified through multiple usage, often changing diurnally or seasonally to afford the occupants increased adaptability and maximum use value. Drawing upon empirical data from Egypt, Colombia and Indonesia, this paper proposes a conceptual framework to analyse the diverse manifestations of this phenomena and to identify lessons for designers and policy makers concerned with making housing more appropriate and affordable.

As China embarks upon a new era of high-quality development, it is increasingly important and imperative for China’s economic development to live up to its real nature, which is to satisfy people’s growing needs for a better life. The paper aims to discuss this issue.

The paper attempts to discuss the implication of HQD and its related theoretical issues from the basic theory of economics, and literature review. It is necessary to return to Marx’s “dual character of commodity” to check the theoretical foundation of this issue, based on the duality methodology, namely, the duality of the value of use and the value of exchange.

Moving from HSG phase to HQD phase constitutes a major challenge and an arduous task that is extremely difficult both theoretically and practically. A series of new problems crop out as to the theoretical understanding and practical resolution. Fundamentally speaking, this new dynamic mechanism intrinsically requires a perfect integration of the instrumental rationality of market economy and the value-based rationality of economic development.

This new momentum requires a perfect match between the instrumental rationality of market economy and the value-based rationality of economic development.