![]() ![]() ![]() From this perspective, the expected utility introduced subjective value elements, complementing the economic value objectified in the price. If, on the contrary, an individual subjectivism is accepted of the profit-loss binomial about such aspects as emotions, morals, or uncertainty, an irrational choice from the point of view of the economic value may be fully rational from the utility expected by the specific individuals. The origin of expected utility emerged from the need to solve the problem of the actual behavior of people not being fully rational, at least in economic terms. The study ends with a discussion and concluding remarks, limitations, and future research. For this purpose, in the second section, the theoretical framework is shown, and after that, the proposal for quantifying the emotional value on organizations, the range of the value, extension to whole stakeholders, degrees of satisfaction, and the full process are explained. Therefore, this study presents a system to quantify the emotional value. These studies identify the importance of emotional value and propose its inclusion in social accounting, which has so far been partially addressed by few studies (Ruiz-Roqueñi, 2020 Tirado-Valencia et al., 2021). This study seeks to develop a proposal to allow a systematic monetary valuation of that type of value, based on the supply and demand curve.Īlthough the work is theoretical, it is underpinned by a large number of cases analyzed in recent years by the social accounting for sustainability (SAS) research group, recognized by International Centre of Research and Information on the Public, Social and Cooperative Economy (CIRIEC), some of which are published in leading journals, general papers (Retolaza et al., 2016 Retolaza and San-Jose, 2021), on its application in the social economy in general (Lazcano et al., 2019 Lazkano and Beraza, 2019 Etxanobe, 2020 Lazkano et al., 2020), on its usefulness to measure hospital efficiency (San-Jose et al., 2019), about sport clubs (Mendizabal et al., 2020 Mendizabal and Garcia-Merino, 2021), applied to ecclesiastical organizations (Retolaza et al., 2020), to universities and education (Ayuso et al., 2020 Arimany-Serrat and Tarrats-Pons, 2021 Barba-Sánchez et al., 2021a), its benefit for technology parks (Blázquez et al., 2020 Torres-Pruñonosa et al., 2020), associations of fishers (Guzmán-Pérez et al., 2018), tourism (Guzmán-Pérez et al., 2021), public tenders (Bernal et al., 2019), and agri-food companies (Barba-Sánchez et al., 2021b). In turn, although the transferred emotional value is considered a fundamental element, it has so far remained elusive to a systemic attempt to its measuring in monetary units. In general, the accounting incorporates the market value, through economic-financial accounting, and the non-market value, through the fair value. ![]() ![]() In recent years, the breakdown of the microeconomic model relating social optimum to profit maximization has led to the development of complementary social accounting that is capable of measuring, preferably in economic terms, the value generated and distributed to the stakeholders. Furthermore, it enables a quantification of the perceived subjective utility, which opens up a research path where some possible lines are clearly identified. The result obtained not only allows Social Accounting to be complemented with emotional value, but it also facilitates its incorporation in the strategy to optimize the emotional value. This proposal allows the emotional value to be anchored in the micro-economy and allows it to be objectively calculated using a regression involving three elements: the market price, the fair value interval, and a perceived satisfaction score by the different stakeholders in the form of significant sampling. This study seeks to identify emotional value with consumer surplus and, by extension, of the other stakeholders in a value transfer process. Yet that emotional value seemed to be anchored in the field of psychology and managed to elude economic science. There was long awareness of an emotional value translation, linked to the transfer of different products, services, remunerations, and incentives, regardless of whether they were market or non-market. Social accounting focuses on value transactions between organizations and their stakeholders both market ones, where the value perceived by the different stakeholders is identified, and non-markets ones, where transactions are monetized at their fair value. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |