Sign Value

Sign value denotes and describes the intangible value accorded to an object because of the prestige or social status that it imparts upon the possessor, rather than the use value and income cashflows derived from the function or use of the asset.

See art, narrative economics, endowment effect and bandwagon bias.

References

1. Debord, Guy. Society of the Spectacle. Bread and Circuses Publishing, 2012.
2. Baudrillard, Jean. "Stanford Encyclopedia of Philosophy." (2007).