Contemporary reflection on the concept of value oscillates between positions that advocate absolutist realism and positions that propose total relativism. The present paper aims to distance itself ...from these two ways of reading the topic, rejecting any monolithic conception, and proposing a stratified theory of value. Beginning with an analysis of values that differentiates them from both “goods” and “valuations,” the author outlines an understanding of value that must be investigated in its multiple, interconnected layers. The stratification starts from the role of the emotional sphere and comes down to a formal and absolute conception of the concept. The goal of the paper is to outline the different levels of validity of each proposed layer, which must be recognized and differentiated, with the aim of also capturing the difficulties and ambiguities that characterize the transition from one level to another.
El presente artículo consta del análisis reflexivo acerca de los procedimientos valuatorios colombianos en el contexto de la vivienda palafítica de la región del Pacífico, más exactamente en el ...municipio de Buenaventura, Valle del Cauca. Se aborda el desarrollo territorial desde los primeros establecimientos representativos en la región hasta el progreso y persistencia de las tipologías arquitectónicas tradicionales, así como las características más significativas de la actual estructura de viviendas palafíticas. Se contrastó la normativa valuatoria vigente para un acercamiento a los métodos acordes a esta tipología; como primera aproximación, los métodos costos de reposición y capitalización de rentas posibilitan asignar un valor económico a la tradicional vivienda del Pacífico. No obstante, es necesario enfrentar el reto para considerar por completo esta estructura constructiva de forma legal, además considerar el valor cultural presente en el diseño arquitectónico como respuesta a la valoración patrimonial que representa para la región en general.
Future free cash flow is a crucial element of most business valuation tools, such as the Discounted Cash Flow model, with the quality of the valuation depending heavily on its forecast accuracy. This ...paper explores the theory on business life cycle (and growth) models in an aim to improve that quality. Life cycle and growth models have been studied in the management and organization literature for decades, but the relevant aspects from a business valuation perspective remain unclear. Reviewing the existing literature, we argue that the five-stage Hanks model (Start-up, Growth, Maturity, Diversification, and Decline) is applicable for valuation purposes. We further argue that life cycle thinking provides useful insights for making grounded assumptions in predicting the future free cash flows and residual value of a company. This paper presents practical valuation approaches and insights for each of the five stages of the Hanks model.
La consultation psychanalytique a pris toute sa place dans la clinique et la transmission psychanalytiques, à côté du soin, avec l’ouverture des cliniques gratuites comme le souhaitait Freud. Le ...Centre de consultations et de traitements psychanalytiques Jean-Favreau s’est inscrit dans cette continuité. Une recherche au sein d’un groupe de pairs se poursuit depuis de nombreuses années selon les modalités d’un travail associatif groupal. Les échanges inter-analytiques à partir de séquences cliniques s’appuient sur l’écoute en second, à partir de l’institutionnalisation de la dualité consultation/traitement, et permettent l’évaluation de la pertinence des indications. La tiercéisation du dispositif, soit « le double cadre », donne son titre à l’article.
Approximately 20 years ago, Peter Diamond and I wrote an article for this journal analyzing contingent valuation methods. At that time Peter's view was that contingent valuation was hopeless, while I ...was dubious but somewhat more optimistic. But 20 years later, after millions of dollars of largely government-funded research, I have concluded that Peter's earlier position was correct and that contingent valuation is hopeless. In this paper, I selectively review the contingent valuation literature, focusing on empirical results. I find that three long-standing problems continue to exist: 1) hypothetical response bias that leads contingent valuation to overstatements of value; 2) large differences between willingness to pay and willingness to accept; and 3) the embedding problem which encompasses scope problems. The problems of embedding and scope are likely to be the most intractable. Indeed, I believe that respondents to contingent valuation surveys are often not responding out of stable or well-defined preferences, but are essentially inventing their answers on the fly, in a way which makes the resulting data useless for serious analysis. Finally, I offer a case study of a prominent contingent valuation study done by recognized experts in this approach, a study that should be only minimally affected by these concerns but in which the answers of respondents to the survey are implausible and inconsistent. PUBLICATION ABSTRACT
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