Use Value


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Use Value

The satisfaction derived from a commodity. That is, use value is the ability of a commodity to extinguish a want. The concept dates at least to Aristotle, but is used most commonly in Marxist economics. It is analogous to utility in neoclassical economics. It differs from exchange value in that use value measures quality while exchange value measures quantity.
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The discussion paper examines the potential to more widely use value capture funding to supplement the billions of dollars each year already spent by all three levels of Australian governments on infrastructure.
Many states and territories already use value capture funding models to support major upgrades, Mr Fletcher said.
Reviewing the briefs and their implications for practitioners, CKN arrived at the following recommendations: (1) When using value added, allow educational leaders to make judgments in interpreting the value-added results in light of other available measures of teacher quality and the principals' own assessments; (2) Use value added with other measures that are valid and have variation; (3) Choose a test that measures knowledge that is valued; (4) Consider differences in teaching contexts when using value added to compare teachers; and (5) Take specific steps to ensure the overall credibility of the teacher evaluation system.