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🌐 Entity
Value (economics)
Benefit provided by a good or service in an economy
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- AI Evaluation (1)
- Economic Impact (1)
- Technology Assessment (1)
- Performance Measurement (1)
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OpenAI (1) · GDPval (1) · AI evaluation (1) · Economic value (1) · Model performance (1) · Real-world tasks (1) · 44 occupations (1) · Technology assessment (1)
📖 Key Information
In economics, economic value is a measure of the benefit provided by a good or service to an economic agent, and value for money represents an assessment of whether financial or other resources are being used effectively in order to secure such benefit. Economic value is generally measured through units of currency, and the interpretation is therefore "what is the maximum amount of money a person is willing and able to pay for a good or service?” Value for money is often expressed in comparative terms, such as "better", or "best value for money", but may also be expressed in absolute terms, such as where a deal does, or does not, offer value for money.
Among the competing schools of economic theory there are differing theories of value.
📰 Related News (1)
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🇺🇸 Measuring the performance of our models on real-world tasks
OpenAI introduces GDPval, a new evaluation that measures model performance on real-world economically valuable tasks across 44 occupations....
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