Evolution of “Value” Concept in Modern Evaluation Activities

DOI: 10.33917/es-4.170.2020.96-103

Economic evaluation is often based on the concept of “market value”. The article shows that definition of market value contains clarifications (details) regarding the evaluation object, the market nature of the valuation object, participants in this market, which cannot be performed in real conditions. The desire to bring the appraiser’s activities closer to reality gave rise to other types of value — both exchange ones (market value in current use, fair, special, mortgage values) and consumer values (investment, use value). It is noted that this is especially justified in relation to evaluation of real estate and enterprises