Values in Public Management

Value in public management is a concept relevant for the relation among inputs, outputs and outcomes of any public entity. In the state of rules model, value is the guarantee of the rights and duties of any component of society. Common goods production value is the unit cost of material and immaterial infrastructures. In the Welfare State based on wealth redistribution, the value of public management can be measured in terms of equity indicators and/or coverage of needs. In the Welfare State, based on divisible and rival goods and service delivery, the output can be related to the utility of individuals. Value can be measured by three different methodologies. Firstly, it can be measured by market value when public administrations compete with private companies; secondly, by opportunity cost of public contribution when tariffs and political prices are lower than production costs; thirdly, by user satisfaction indicators. Public policies values are measured by a set of key performance indicators: appropriateness, effectiveness, efficiency, and economic sustainability and opportunity cost.