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Perceived value

Last updated on Tuesday, June 4, 2024.



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Perceived value refers to the subjective assessment or judgment made by an individual regarding the worth, desirability, or utility of a product, service, or experience based on their beliefs, expectations, and personal preferences. This evaluation often influences decision-making processes, such as purchasing decisions, and can be influenced by factors both internal (such as emotions, past experiences, and cognitive biases) and external (such as price, quality, and marketing strategies).

The Concept of Perceived Value

In the realms of Cognitive Science and Decision Sciences, the concept of perceived value holds significant importance in understanding human behavior and decision-making processes.


Perceived value refers to the worth that a product, service, or outcome has in the eyes of an individual. It is a subjective evaluation that is influenced by various cognitive factors, emotions, and personal experiences.

Importance in Decision-Making

When individuals make decisions, they often weigh the perceived value of different options to determine the most optimal choice. This evaluation involves comparing the benefits of a particular option with its perceived cost or drawbacks.

Factors Influencing Perceived Value

Several factors can influence how individuals perceive the value of a product or service. These may include:

Applications in Marketing and Psychology

Understanding the concept of perceived value is crucial in marketing strategies and consumer behavior studies. Marketers often aim to enhance the perceived value of their products to attract customers and drive sales. Meanwhile, psychologists study how individuals' perceptions of value influence their decision-making processes and overall well-being.

By delving into the intricacies of perceived value, researchers in Cognitive Science and Decision Sciences continue to shed light on the complexities of human cognition and behavior.


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