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The ambiguity of value

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THE AMBIGUITY OF VALUE

Jarkko J. Erikshammar, Anders Björnfot, and Viktor Gardelli

•Value ≠ Waste Reduction

•Value ≠ Variation Reduction

•Value ≠ Cost Reduction

•Value ≠ Uncertainty Reduction

•Value ≠ Design

Working hypotheses

•Reduction or removal of elements that detract from value, such as waste, variation, uncertainty and costs, is not the only means to value increase

•The term value, as a whole, can be conceptualized and applied in practice using a philosophical method.

One element will only tell one part of the story.

Consensus necessary for collaboration.

Consensus by placing quantitative units Utility theory may be a useful tool since it

allows actors to express their priorities.

Theory Case

Study

Utility theory is one known solution to the Sorites Paradox (700 B.C) (1) A collection of 10 billion grains is a heap

(2) Removing 1 grain does not cause a heap to cease to be a heap.

(3 Hence: A collection of two grains is a heap.

References

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