common value

USAGE SUMMARY

"common value" is a correct and usable phrase in written English.
It can be used to refer to an idea or belief shared by many people. For example, "The preservation of the environment is a common value among citizens of our country."

✓ Grammatically correct

Academia

News & Media

Science

Human-verified examples from authoritative sources

Exact Expressions

57 human-written examples

That's a common value.

Yale University

So that's a classic example of a common value auction.

Yale University

Oil wells are pretty much common value goods.

Yale University

This is a common phenomenon in common value auctions.

Yale University

Is that a common value or a private value?

Yale University

Instead we only need to know if we addressing some general common value.

The Guardian

So the oil well is a good example of something that's close to common value but it isn't really literally common value, probably, in reality.

Yale University

All right, so this phenomenon is very general because common value auctions are very general.

Yale University

We'll use the notation V to denote this common value that this object has.

Yale University

Human-verified similar examples from authoritative sources

Similar Expressions

2 human-written examples

Most assets have both common-value and private-value elements.

Harvard University

As noted, if you are bidding for an asset with a common-value element, that should give you pause.

Harvard University

Expert writing Tips

Best practice

When using "common value" in the context of auctions or economics, ensure you clarify whether you are referring to a private value versus a value that is the same for all bidders.

Common error

Avoid using "common value" when you actually mean the statistical mode (the most frequent value in a dataset). "Common value" refers to a shared belief or assessment, whereas the mode is a statistical measure.

Linguistic Context

The phrase "common value" functions primarily as a noun phrase, where "common" modifies the noun "value". It describes a shared or collective belief, principle, or characteristic, as demonstrated by Ludwig AI and the provided examples.

Expression frequency: Very common

Frequent in

Academia

26%

News & Media

21%

Science

41%

Less common in

Encyclopedias

2%

Wiki

3%

Formal & Business

7%

Ludwig's WRAP-UP

In summary, "common value" is a grammatically sound and frequently used phrase that denotes a shared principle or belief. As Ludwig AI confirms, its usage spans across diverse fields like academia, economics, and general discourse. When employing this phrase, it's crucial to discern whether you're alluding to a universally held principle or employing it within the specialized realm of auction theory. Be mindful of not interchanging it with "most common value", the statistical term, and consider leveraging analogous phrases such as "shared value" or "collective value" for nuanced expression.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

shared value

Emphasizes the aspect of being collectively held or agreed upon.

collective value

Highlights the group or community aspect of the value.

mutual value

Suggests a value that benefits all parties involved.

joint value

Focuses on the combined or unified nature of the value.

shared belief

Shifts the focus from value to a commonly held conviction.

common principle

Replaces "value" with "principle" indicating a fundamental truth or proposition.

collective belief

Highlights the group aspect of the conviction.

unified value

Emphasizes the aspect of being together in agreement.

public value

Focuses on value that is applicable or important to society as a whole.

societal value

Shifts the focus onto society as a whole.

FAQs

How is "common value" used in auction theory?

In auction theory, "common value" refers to an item whose true value is the same for all bidders, although they may have different estimates of that value. This contrasts with private value auctions, where each bidder has their own unique valuation.

What's the difference between "common value" and "private value" in economics?

"Common value" indicates that the true value is the same for everyone, even if individuals have differing estimates. /s/Private+value on the other hand, implies that each person has a unique and independent valuation for something.

Can "common value" be used outside of economic contexts?

Yes, "common value" can refer to a shared principle, belief, or standard held by a group of people. For example, respecting human rights is a /s/shared+value across many cultures.

What are some synonyms for "common value"?

Alternatives to "common value" include "shared value", "collective value", and "mutual value", depending on the specific nuance you want to convey.