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Value-added theory (also known as social strain theory) is a sociological theory, first proposed by Neil Smelser in 1962, which posits that certain conditions are needed for the development of a social movement.
He was an active researcher from 1958 to 1994. His research was on collective behavior, sociological theory, economic sociology, sociology of education, social change, and comparative methods. [3] Among many lifetime achievements, Smelser "laid the foundations for economic sociology." [4]
Value-added theory – Professor Neil Smelser (1930-2017) argues that collective behavior is actually a sort of release-valve for built-up tension ("strain") within a social system, community, or group. [5] If the proper determinants are present then collective behavior becomes inevitable.
Collective action refers to action taken together by a group of people whose goal is to enhance their condition and achieve a common objective. [1] It is a term that has formulations and theories in many areas of the social sciences including psychology, sociology, anthropology, political science and economics.
Granovetter, in his essay "Threshold models of collective behavior", published in the American Journal of Sociology in 1978 [6] worked to solidify the theory. [7] Everett Rogers later cites them both in his work Diffusion of Innovations , in which critical mass plays an important role.
Which value theory holds true divides economic thinkers, and is the base for many socioeconomic and political beliefs. [11] Silvio Gesell denied value theory in economics. He thought that value theory is useless and prevents economics from becoming science and that a currency administration guided by value theory is doomed to sterility and ...
Collective intentionality has also been approached in light of economic theories, including game theory. According to Natalie Gold and Robert Sugden , efforts to define collective intentions as individual intentions and related beliefs (such as those of Tuomela & Miller and Michael Bratman ) fail because they allow obviously non-cooperative ...
In accounting, as part of financial statements analysis, economic value added is an estimate of a firm's economic profit, or the value created in excess of the required return of the company's shareholders. EVA is the net profit less the capital charge ($) for raising the firm's capital.