In decision-making, 'objective value' refers to what aspect?

In decision-making, 'objective value' refers to the inherent worth of an item or solution, which is viewed independently of personal feelings, beliefs, or perspectives. This concept implies that value can be assessed based on measurable criteria or characteristics that do not vary from person to person. For instance, the monetary cost of an item or its utility in solving a specific problem reflects its objective value, as these are standardized attributes that can be quantified and compared across different contexts or individuals.

This clear distinction between objective and subjective value is crucial in psychological decision-making processes. Objective value offers a consistent baseline for evaluating choices, while subjective perspectives, influenced by personal experiences and emotions, contribute a different layer of complexity that may not always align with the objective evaluation.