Value articulation

Arild Vatn

Chapter 12 in Rethinking Ecological Economics, 2026, pp 202-217 from Edward Elgar Publishing

Abstract: This chapter integrates the specific understanding of the economic process with the role of values in decision-making. Governance structures – be they political or economic – are characterized as value-articulating institutions. They are based on a set of values and facilitate specific rationalities: they define who can participate and how. They define how values can be expressed and how conclusions are reached. The market is described as a value-articulating institution, illustrating how certain kinds of values lose out/are not included – relational and intrinsic values, but also non-market instrumental values like basic regulative functions of ecosystems. Other values may be twisted as forced through the monetary lens. The consequence is environmental deterioration. Certain methods have been developed to complement the market. The chapter describes and compares three of these: cost-benefit analysis; multi-criteria analysis; and deliberative methods. While the former is based on mainstream assumptions, the latter utilizes institutionalist insights.

Keywords: Value-articulating institutions; Markets; Welfare indicators; Cost-benefit analysis; Multi-criteria analysis; Deliberative methods (search for similar items in EconPapers)
Date: 2026
ISBN: 9781803921839
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/doi/10.4337/9781803921846.00026 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:21493_12

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Jack Sweeney ().