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Economic Theory to Visualize the Value of Design: a Case Study on The User’s Perception of Value

Author

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  • Maria Cristina Morejon Alava

    (Savannah College of Art and Design (SCAD), Savannah, GA, USA)

Abstract

Following John Heskett (2017), this paper posits that economic value cannot be defined without transcending and acknowledging the user as its source. His research presents economic theory linked to the value creation process applicable to study the value of design. This paper proposes that economic theory can be used to evaluate the impact of design when understanding and interpreting the subjective perception of value. A plan for a cross-sectional case study is explained to collect and analyze qualitative data in two stages with a means-end theory approach. This research aims to: (1) Understand the user’s perception of value, (2) Evaluate the impact of design by reflecting on economic theory and (3) Analyze the relationship between design and economics regarding economic value to contribute to the business of design. It may lead to the development of an evaluation model to guide organizations towards the creation or improvement of products, services or systems with a better understanding and a more measured perception of how users perceive value for decision-making.

Suggested Citation

  • Maria Cristina Morejon Alava, 2019. "Economic Theory to Visualize the Value of Design: a Case Study on The User’s Perception of Value," International Journal of Innovation and Economic Development, Inovatus Services Ltd., vol. 5(1), pages 44-53, April.
    • Handle: RePEc:mgs:ijoied:v:4:y:2019:i:6:p:44-53
    DOI: 10.18775/ijied.1849-7551-7020.2015.51.2004
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    References listed on IDEAS

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    1. Herbert A. Simon, 1996. "The Sciences of the Artificial, 3rd Edition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262691914, December.
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    More about this item

    Keywords

    Virtual reality; New product development; Conjoint analysis;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General

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