Subjective value

Subjective value refers to the personal worth or importance an individual assigns to a good, service, or experience, based on their own preferences, needs, and desires. It varies from person to person because each individual’s circumstances, tastes, and priorities are different. For example, one person might value a luxury watch highly, while another might see it as unnecessary. This concept helps explain why people make different choices and prioritize differently—they each perceive the value of things through their unique perspective, rather than an objective or universal standard.