Axiology - the Science of Value

["Alan Meekings" <alan@landmarkconsulting.co.uk>]

Myron Tribus asked, "If Alan Meekings can supply us with a reference to
"Axiology" (the science of value), I, for one, will be very
appreciative."

My own introduction to the rather obscure European school of philosophy
known as Axiology came via Professor Göran Roos at the Centre for
Business Performance at Cranfield University in the UK.

The point Göran was at pains to make to me was that, when thinking about
measurement, we need to be aware of the differences in situations where:

(1)  Everyone can agree upon a unit of measurement that is worth the
same for all.  Monetary units, such as dollars, pounds, euros, etc,
clearly come into this category.  However, even in this dimension, we
need to be aware that one dollar may not have the same value for a
beggar as it does for Bill Gates.  When the unit of measurement has a
common value for (nearly) everyone, the challenge becomes ensuring that
the measurement process is as transparent and reliable as possible –
i.e. not like at Enron.

(2)  Value is in the eye of the beholder.  In this situation, value is
both individual and context specific.  Intangible assets, such as
intellectual capital, clearly fall into this category.
 
I asked Professor Roos to provide some references for me to read.  He
suggested I should start with:

(1)  "Accounting, Empirical Measurement and Intellectual Capital",
Philip K M'Pherson and Stephen Pike, Journal of Intellectual Capital,
Vol. 2 No.3, 2001, pp 246-260, MCB University Press.

(2)  "A General Theory of Value: Axiology in the Central European
Philosophical Tradition", Gloria L Zúńiga, PhD Dissertation, Department
of Philosophy, Graduate School of State University of New York at
Buffalo, May 2000.

I've now tracked-down copies of both these references, but have yet to
read them myself.  They are scanned documents, and hence very large
electronic files.  However, if anyone would like me to send them copies,
do let me know.

Regards as ever,
 
Alan
 
Mobile: +44 07785 258 741
Email: alan@landmarkconsulting.co.uk