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Measuring the Nonmonetary Component of General Value of Jobs

Advances in Social Sciences Research Journal

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Field Value
 
Title Measuring the Nonmonetary Component of General Value of Jobs
 
Creator Aityan, Sergey K.
Ivanov-Schitz, Alexey K.
Thapa, Shankar
 
Subject Economics, Sociology
value, nonmonetary, utility, preference, behavioral economics, decision-making, assessment, personal choice
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Description The concept of value has been a central concern of economics since its inception as a discipline. The labor theory of value in classical economics was followed by the neoclassical perceptional theory of utility, and behavioral economics introduced a psychological track in it. The recently introduced theory of general value makes the next step by introducing two distinct components of value: monetary and nonmonetary. The introduction of the nonmonetary component of value helps explain many types of decisions and choices, which were not clearly understood before, and helps with the strategic planning and actions. This paper introduces a methodology of measuring nonmonetary value of jobs in the perception of people. The indifference point between two choices is used to measure the difference if nonmonetary components in terms of the difference of the monetary components with the opposite sign. This method was used to measure relative nonmonetary values (the difference of the monetary components) of various jobs in the perception of different social groups.
 
Publisher Advances in Social Sciences Research Journal
 
Contributor —
 
Date 2016-12-13
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.scholarpublishing.org/index.php/ASSRJ/article/view/2414
10.14738/assrj.312.2414
 
Source Advances in Social Sciences Research Journal; Vol 3, No 12 (2016): Advances in Social Sciences Research Journal
10.14738/assrj.312.2016
 
Language eng
 
Relation http://www.scholarpublishing.org/index.php/ASSRJ/article/view/2414/1516
 
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