Value: The universal definition of (economic) Value as of Webster’s Dictionary
is applied: ”The amount of another commodity for which a given thing can be
exchanged. [...] A fair return in goods, services or money for something exchanged.[...]”.
Also monetary cash or monetary credit is such a commodity.
Older definitions (e.g. Marx) have to be discarded. Consequently the creation of
value is a process in the mind of the observer – potential buyer.