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Abstract
Theories of value are legion, few axe satisfactory, however. Scarcity as source of value is too relativistic and also unable to explain negative evaluation of scarce objects. Labor as a basis of value cannot take account of observed variations of the value of goods. The present approach is an attempt to see value as the result of two sociological processes: proliferation and status association. The first process determines the value of a commodity by its information content, the other by a perceptional process, the halo-effect. The value of a commodity is hence the result of its history, a string of inputs. They lend themselves to be represented in form of an automaton. A prototype of such an automaton is presented, the valuton. A critical assessment concludes the article.