The Laws of Human Relations and the Rules of Human Action Derived Therefrom.

Walker, Donald A.; Gossen, Hermann Heinrich; Blitz, Rudolph C.

doi:10.2307/2233499

Cited by 9 publications

(10 citation statements)

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“…(1871/2007, p. 123) Concerning the final decision to invest or disinvest, a club will only buy (sell) a player at a monetary equivalent value X if his subjective value is higher (lower) than or is equal to X, because then he is indifferent. The subjective value of an individual depends entirely on marginal utility (Gossen, 1983;Jevons, 2013;Menger, 2007;von Böhm-Bawerk, 1921;von Wieser, 1900;Walras, 1926). This interpretation of value is a value-in-use as pointed out by Mises:…”

Section: Value and Price In The History Of Economic Thoughtmentioning

confidence: 99%

“…Put simply, there is no commentary on how value-in-use explains the formation of value-in-exchange, or vice versa. The turning point occurs in the second half of the nineteenth century (Gossen, 1983), when it becomes clear that the utility of the last unit is equal to the value-in-exchange in a functioning market. In the midst of what was later called the 'marginal revolution', Menger (2007) published his groundbreaking work in which the concept of value plays a crucial role.…”

Section: Value and Price In The History Of Economic Thoughtmentioning

confidence: 99%

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Football players in light of economic value theory: Critical review and conceptualisation

Franceschi,

Brocard,

Follert

et al. 2023

Manage Decis Econ

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Football players represent the key assets of football clubs, and their value determination is therefore at the heart of clubs' investment and decision‐making processes. Unsurprisingly, the topic of player value has attracted the attention of scholars from various disciplines for decades. Despite this, there is a corpus of academic literature, which, although it works empirically with the relevant data, does not discuss any of the concepts related to the terms ‘value’ and ‘price’ in depth. Conversely, there are studies that do so but do not present a unified and coherent concept of the terminologies used. Consequently, no comprehensive definition of the value of football players seems to emerge from the literature. The central aim of this paper is to fill this gap. Based on a critical review of existing literature, we propose a unified framework embedded in subjective value theory, particularly as formulated by the Austrian school of economics. As a result, this work presents a theoretical basis for defining the use value and market value of football players, the comparison of which can improve clubs' decision‐making. In this context, we also discuss the conceptual validity of Transfermarkt values, a widely used crowd‐sourced valuation tool. Overall, we seek to strengthen the link between economic theory and practical management problems in the football industry. Furthermore, our results are not solely limited to football but are also applicable to athlete valuation in other sports.

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Section: Value and Price In The History Of Economic Thoughtmentioning

confidence: 99%

Section: Value and Price In The History Of Economic Thoughtmentioning

confidence: 99%

Football players in light of economic value theory: Critical review and conceptualisation

Franceschi,

Brocard,

Follert

et al. 2023

Manage Decis Econ

View full text Add to dashboard Cite

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“…Gossen's Diminishing Marginal Utility (DMU) theory can also be useful [29]. It states that the marginal utility of a sound decreases as the number of goods consumed increases.…”

Section: Consumer Behaviour and E-commercementioning

confidence: 99%

“…The interviewees were carefully selected based on the control variables to increase data quality and reliability. The interviewees of each case represented all three age groups, including the teenager group (18)(19)(20)(21)(22)(23)(24)(25)(26)(27)(28)(29)(30), the middle age group (31-59), and the elderly group (60+), and they all have an average income level among their age groups respectively. The distribution of the interviewees is shown in the table below.…”

Section: Wdsmentioning

confidence: 99%

Imitation or Development? Physical Retailers in China

Liu¹

2023

BCPBM

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E-Commerce is becoming increasingly important as a retailing channel especially during the COVID-19 pandemic, and large retailing companies in various industries has decided to embrace e-commerce. Nevertheless, some of the physical retailers not only managed to compete with e-commerce retailers but also gained exceptional growth even during the most stressful times of COVID-19 and yet has not received much scholarly attention. This research utilizes the concept of imitation strategy and development strategy as a theoretical lens to analyze how different attributes of the physical retailers influenced consumers’ decision-making process in the early post-pandemic era. The findings show that developing physical retailers’ unique attributes can be a more effective strategy when comparing to imitating e-commerce attributes. This study also discovered new consumer behavior patterns that can influence the effectiveness of the existing marketing channels and techniques. This research contributes to both academic and practical fields by developing cumulative theoretical frameworks related to physical retailing and e-commerce, and by offering corresponding strategic suggestions for retailers to obtain competitive advantage in the fast-changing retailing market.

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“…It would be inefficient to assign high α values for those pulses as they move further away from the edge because they start to contribute less to the out-of-band power. This is precisely a case of Diminishing Marginal Utility [21]. According to the economic principle of diminishing marginal utility, as we spend more of a cost-in this case, the roll-off factor of the pulses-the marginal utility decreases.…”

Section: Roll-off Factors Profile Determinationmentioning

confidence: 99%

Time–Frequency Warped Waveforms

2019

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The forthcoming communication systems are advancing towards improved flexibility in various aspects. Improved flexibility is crucial to cater diverse service requirements. This letter proposes a novel waveform design scheme that exploits axis warping to enable peaceful coexistence of different pulse shapes. A warping transform manipulates the lattice samples nonuniformly and provides flexibility to handle the time-frequency occupancy of a signal. The proposed approach enables the utilization of flexible pulse shapes in a quasi-orthogonal manner and increases the spectral efficiency. In addition, the rectangular resource block structure, which assists an efficient resource allocation, is preserved with the warped waveform design as well.

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The Laws of Human Relations and the Rules of Human Action Derived Therefrom.

Cited by 9 publications

References 0 publications

Football players in light of economic value theory: Critical review and conceptualisation

Football players in light of economic value theory: Critical review and conceptualisation

Imitation or Development? Physical Retailers in China

Time–Frequency Warped Waveforms

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