Towards a dynamic interpretation of subjective and objective values : Historical accounts and principles of self-organization
Type
conference paper
Date Issued
2009-09-03
Author(s)
Abstract
One of the fundamental challenges of any theory involving values concerns their "truth";. Whether or not values are considered as a given and objective category or as something only emerging from human interaction and thus being subjective is of crucial importance for scholars developing models and concepts that imply the notion of values, the evaluation of assets, or dynamic moments of development and change. In our conceptual paper we understand the notion of value as concept that is supporting people in dealing with uncertainty, i.e. their goal to reduce complexity when making decisions. We show how valuation techniques in business offer different solutions to the complexityproblem. We then show how the underlying value theories depend on historical development.
Against this argumentative background we focus on the solution developed by the Austrian School of marginal utility. Based on those ideas we apply self-organization theory to formally re-concile the rift between subjective and objective values. The advantage of the perspective taken is that subjectivity can be fully taken into account while also acknowledging objective elements. The paper concludes with implication for research and practice showing also why its approach may be especially attractive in fundamental moments of change and crisis.
Against this argumentative background we focus on the solution developed by the Austrian School of marginal utility. Based on those ideas we apply self-organization theory to formally re-concile the rift between subjective and objective values. The advantage of the perspective taken is that subjectivity can be fully taken into account while also acknowledging objective elements. The paper concludes with implication for research and practice showing also why its approach may be especially attractive in fundamental moments of change and crisis.
Language
English
Keywords
Public Value
HSG Classification
contribution to scientific community
Refereed
Yes
Publisher
Academy of Management
Publisher place
New York
Start page
38
Event Title
69th Academy of Management Annual Meeting (AOM) 2009 "Green Management Matters"
Event Location
Chicago, IL USA
Event Date
07.-11.08.2009
Subject(s)
Eprints ID
55909
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Name
2009_Towards a Dynamic Interpretation_AOM_CvM_TM.pdf
Size
1.73 MB
Format
Adobe PDF
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