--- title: "Meaning & Key Takeaway of: The determination of the value of an item…" description: "\"The determination of the value of an item must not be based on its price, but rather on the utility it yields. The price of the item is dependent only ..." image: "https://sms4smile.com/quotes/i/28e/daniel-bernoulli-59616_amount_the-determination-of-the-value-of-an-ite_685049.png" --- # The determination of the value of an item must not be… ![“The determination of the value of an item must not be based on its price, but rather on the utility it yields. The price of the item is dependent only on the thing itself and is equal for everyone; the utility, however, is dependent on the particular circumstances of the person making the…” quote by Daniel Bernoulli](https://sms4smile.com/quotes/i/28e/daniel-bernoulli-59616_amount_the-determination-of-the-value-of-an-ite_685049.png) [Download](https://sms4smile.com/quotes/i/28e/daniel-bernoulli-59616_amount_the-determination-of-the-value-of-an-ite_685049.png) [Open image](https://sms4smile.com/quotes/i/28e/daniel-bernoulli-59616_amount_the-determination-of-the-value-of-an-ite_685049.png) > “The determination of the value of an item must not be based on its price, but rather on the utility it yields. The price of the item is dependent only on the thing itself and is equal for everyone; the utility, however, is dependent on the particular circumstances of the person making the estimate. Thus there is no doubt that a gain of one thousand ducats is more significant to a pauper than to a rich man though both gain the same amount.” [Daniel Bernoulli](https://sms4smile.com/quotes/author/daniel-bernoulli/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Value of an item depends on personal utility, not price; wealth’s impact varies with individual circumstances. **In simple terms:** Value is about usefulness, not cost. Key Takeaway Assess usefulness, not just price. Themes economics utility inequality Mood analytical pragmatic Type economic educational When to use this quote - budgeting - policy making - personal finance Key Concepts subjective value risk assessment Questions to Reflect On - How do you measure personal benefit? - When does price mislead perceived value? A Different Perspective Utility can be hard to quantify objectively. ★ ★ ★ ★ ★ No ratings yet [Determination](https://sms4smile.com/quotes/about/determination/) [Doubt](https://sms4smile.com/quotes/about/doubt/) [Men](https://sms4smile.com/quotes/about/men/) [Money](https://sms4smile.com/quotes/about/money/) [Rich man](https://sms4smile.com/quotes/about/rich-man/) [Values](https://sms4smile.com/quotes/about/values/) ## Related quotes > [There is nothing in all the world greater than freedom. It is worth paying for; it is worth going to jail for. I would…](https://sms4smile.com/quotes/martin-luther-king-jr/there-is-nothing-in-all-the-world-greater-than-freedom-it-is-worth/) [Martin Luther King, Jr](https://sms4smile.com/quotes/author/martin-luther-king-jr/) > [“If he had the earth for his pasture and the sea for his pond, he would be a pauper still. 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