On the Prospects of a Useful Unified Theory of Value for Engineering

This paper begins with a general discussion of engineering decision making, works its way into contemporary value theories and their potential usefulness in engineering, and goes on to comment on the aspects and prospects of a unified theory of value useful for engineering. It is concluded that the present prospects of a unified theory of value are rather dim if one demands broad flexibility, i.e., applicability and adaptability, over a wide range of decision situations. As an alternative to a unified theory the possibility of a useful metatheory, serving to guide the choice of a particular theory of value in each decision situation, is considered.