We study the model theory of fields k carrying a henselian valuation with real closed residue field. We give a criteria for elementary equivalence and elementary inclusion of such fields involving the value group of a not necessarily definable valuation. This allows us to translate theories of such fields to theories of ordered abelian groups, and we study the properties of this translation. We...

The human orbitofrontal cortex is strongly implicated in appetitive valuation. Whether its role extends to support comparative valuation necessary to explain probabilistic choice patterns for incommensurable goods is unknown. Using a binary choice paradigm, we derived the subjective values of different bundles of goods, under conditions of both gain and loss. We demonstrate that orbitofrontal a...

Valuation networks have been proposed as graph� ical representations of valuation�based systems (VBSs). The VBS framework is able to capture many uncertainty calculi including probability theory, Dempster�Shafer's belief�function theory, Spohn's epistemic belief theory, and Zadeh's possibility theory. In this paper, we show how valuation networks encode conditional indepen� dence relations. For...

In an intertemporal setting in which individual uncertainty is resolved over time, advancepurchase discounts can serve to price discriminate between consumers with different expected valuations for the product. Consumers with a high expected valuation purchase the product before learning their actual valuation at the offered advance-purchase discount; consumers with a low expected valuation wil...

The focus on situated practices in current valuation studies becomes an obstacle when situations are too narrowly defined, moments of treated as isolated events and especially the interconnectedness across social fields is neglected. In order to overcome these limitations, we propose concept constellations (Meier et al. 2016). Based literature distinguishes positions their relations, rules, inf...

The concept of value is of great importance for investors. The goal of different groups of investors is always to maximize the value of their capital. The aim of this research is developing factors effective on securities in capital market in order to develop a paradigm for fair valuation that leads investors to make better decisions. To study fair value in a precise and comprehensive way, effe...

Most models of animal foraging and consumer choice assume that individuals make choices based on the absolute value of items and are therefore 'economically rational'. However, frequent violations of rationality by animals, including humans, suggest that animals use comparative valuation rules. Are comparative valuation strategies a consequence of the way brains process information, or are they...

This paper reports the results of a study to estimate a statistical health state valuation model for a revised version of the Health Utilities Index Mark 2, using Standard Gamble health state preference data. A sample of 51 health states were valued by a sample of the 198 members of the UK general population. Models are estimated for predicting health state valuations for all 8000 states define...

Environmental economists have long used surveys to gather information about people’s preferences. This is particularly true in the field of non-market valuation, where techniques such as contingent valuation, choice modelling and the travel cost method invariably employ some form of survey instrument. A recent innovation in survey methodology has been the advent of web-based surveys. While popu...