ECOSYSTEM OF GOODS AND VALUE CREATION
DOI:
https://doi.org/10.56238/isevmjv4n6-001Keywords:
Ecosystem of Goods, Exchange Value, Value Creation, Value Of GoodsAbstract
This paper investigates how goods assembled form ecosystem that determines their values independently of the price system. While this aspect has roots in old classical economic theory, it has periodically been overlooked in the development of consumer theory. It draws inspiration from the assertions by M. Douglas and B. Isherwood that nothing possesses inherent value and focuses on approaches of making correct choices by G. Gigerenzer, as well as examples drawn from the marketing systems of supermarkets, superstores, hypermarkets, and mega malls, where a diverse array of products is made available to buyers. The findings of this study suggest that interconnected goods within an ecosystem establish standards of exchange-values that significantly contribute to consumer choice.
References
Aspers, P., & Beckert, J. (Eds.). (2011). The worth of goods: Valuation and pricing in the economy. Oxford University Press.
Berndt, E. R., & Hulten, C. R. (Eds.). (2007). Hard-to-measure goods and services: Essays in honor of Zvi Griliches. University of Chicago Press.
Dholakia, R. R. (2012). Technology and consumption: Understanding consumer choices and behaviors. Springer.
Dorman, P. (2014). Microeconomics: A fresh start. Springer.
Douglas, M., & Isherwood, B. (1996). The world of goods: Towards an anthropology of consumption. Routledge.
Gigerenzer, G. (2014). Risk savvy: How to make good decisions. Viking.
Giudice, F., La Rosa, G., & Risitano, A. (2006). Product design for the environment: A life cycle approach. Taylor & Francis.
Griffin, R. W., & Pustay, M. W. (2020). International business: A managerial perspective (9th ed.). Pearson.
Hickey, A. J., & Smyth, H. D. C. (2020a). Considerations in monitoring and controlling pharmaceutical manufacturing. In Pharmaco-complexity: Non-linear phenomena and drug product development (2nd ed., pp. 31–38). Springer.
Hickey, A. J., & Smyth, H. D. C. (2020b). Pharmaco-complexity: Non-linear phenomena and drug product development (2nd ed.). Springer.
Kahneman, D., & Tversky, A. (2017). Choices, values, and frames. In D. Kahneman & A. Tversky (Eds.), Choices, values, and frames (p. 26). Cambridge University Press.
Lancaster, K. J. (1966). A new approach to consumer theory. The Journal of Political Economy, 74(2), 132–157. https://doi.org/10.1086/259131
Lindemann, U., Maurer, M., & Braun, T. (2009). Structural complexity management: An approach for the field of product design. Springer.
Mankiw, N. G. (2006). Principles of microeconomics (4th ed.). Thomson South-Western.
Shirunda, O. S., Kanyimba, K., & Musti, K. S. S. (2023). Policy perspective for developing electric vehicle ecosystem. IGI Global.
Sraffa, P. (1960). Production of commodities by means of commodities: Prelude to a critique of economic theory. Cambridge University Press.
Sunstein, C. R. (2015). Choosing not to choose: Understanding the value of choice. Oxford University Press.
Vizer, E. A., & Carvalho, H. (2015). La perspectiva ecológica y la hipermediatización social. Palabra Clave, 18(4), 1087–1110. https://doi.org/10.5294/pacla.2015.18.4.
Downloads
Published
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
