Add economic value to oeo-social?

han-f commented 4 years ago

Description of the issue

I am not sure whether we need to add value to oeo-social. If we wanted to include some fundamentals of economics to oeo-social, then this term would be useful. Value is not equal to price. I paste some Menger (1871) into the comment below for some initial food for thought.

Ideas of solution

Work along "An ontology of economic objects", Gloria Zuniga (1999). https://mpra.ub.uni-muenchen.de/5566/1/Ontology_of_Economic_Objects.pdf

Workflow checklist

[ ] I discussed the issue with someone else than me before working on a solution
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[x] I added this issue to the Project 'Issues'. If suitable, I add it to further Projects.
[x] The goal of this ontology is clear to me

I am aware that

[x] every entry in the ontology should have a definition
[x] classes should arise from concepts rather than from words

han-f commented 4 years ago

Food for thought: Ist nämlich der Bedarf an einem Gute grösser, als die verfügbare Quantität desselben, so steht zugleich fest, dass, nachdem ein Theil der bezüglichen Bedürfnisse ohnehin wird unbefriedigt bleiben müssen, die verfügbare Quantität des in Rede stehenden Gutes um keine irgendwie practisch beachtenswerthe Theilquantität verringert werden kann, ohne dass hiedurch irgend ein Bedürfniss, für welches bis dahin vorgesorgt war, nicht, oder doch nur minder vollständig befriedigt werden könnte, als dies ohne den Eintritt der obigen Eventualität der Fall sein würde. Bei allen Gütern, welche in dem obigen Quantitäten-Verhältnisse stehen, ist demnach von der Verfügung über jede concrete, practisch noch beachtenswerthe Quantität derselben die Befriedigung irgend eines menschlichen Bedürfnisses abhängig. Werden sich nun die wirthschaftenden Menschen dieses Umstandes [78] bewusst, erkennen sie nämlich, dass von der Verfügung über jede Theilquantität der in Rede stehenden Güter, beziehungsweise von jedem concreten, in dem obigen Quantitäten-Verhältnisse stehenden Gute, die Befriedigung eines ihrer Bedürfnisse, oder doch die grössere oder geringere Vollständigkeit derselben abhängig ist, so gewinnen diese Güter für sie jene Bedeutung, die wir den Werth nennen, und es ist somit der Werth die Bedeutung, welche concrete Güter oder Güterquantitäten für uns dadurch erlangen, dass wir in der Befriedigung unserer Bedürfnisse von der Verfügung über dieselben abhängig zu sein uns bewusst sind. https://oll.libertyfund.org/titles/1279#Menger_0761_245

l-emele commented 4 years ago

Wikipedia has a rather good Aristotelian definition: Economic value is a measure of the benefit provided by a good or service to an economic agent.

I also like labelling it economic value as there are also other relevant values, e.g. the value in mathematics and physics.

akleinau commented 4 years ago

I'm thinking about how to classify this. Right now we have: quantity value: a number with a unit of measurement unit: standardized quantity of a physical quality

jannahastings commented 4 years ago

I would tend to classify economic value as a dependent continuant, probably a role. Economic value is not necessarily a numeric (quantity) value, although it can be assigned a quantity value in a particular economic system at a particular moment in time with a given currency unit.

han-f commented 4 years ago

We do have quantity value in the oeo as: A quantity value is a generically dependent continuant defined by a numeral together with a unit of measurement to quantify an entity.

akleinau commented 4 years ago

following @jannahastings explanation I'd say we stay with dependent continuant. Then we just need a definition: "An economic value is a dependent continuant that measures the economic benefit that it's bearer provides." ?

sfluegel05 commented 4 years ago

economic value got implemented in PR #559 as a quantity value. Does that resolve this issue or do we need an additional role economic value (maybe with a slightly different label, so it doesn't get too confusing)?

jannahastings commented 4 years ago

economic value got implemented in PR #559 as a quantity value. Does that resolve this issue or do we need an additional role economic value (maybe with a slightly different label, so it doesn't get too confusing)?

Let's consider it as resolving this issue, unless a requirement for a dependent continuant / role term arises separately, in which case we can think of a different name. I think that the entities we want to classify as economic values work well as quantity values, especially as in many cases they are the result of complex financial calculations which necessarily involve quantification.

sfluegel05 commented 3 years ago

As economic value is implemented and there are no related concept we need, I'll close this issue

OpenEnergyPlatform / ontology