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URL:  http://boards.fool.com/value-is-defined-whenever-i-choose-to-spend-my-30776695.aspx

Subject:  Re: Proposal to end public pensions Date:  7/14/2013  12:11 PM
Author:  jerryab Number:  428758 of 455642

Value is defined whenever I choose to spend my money or time on something.

Close, but not quite. Something has potential value when you are willing to consider using it.

How much I spend is my definition of how valuable it is.

Wrong.

What you have determined is the price is NOT GREATER than the value to you. So, if something has a "value" to you of $4, and it sells for $3--you would buy it. But if the price was GREATER then $4, you would NOT buy it. How everyone else values the item is theirs to determine. Which means the real value of an item is variable--but the PRICE is not.
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