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ABSTRACT
Although public value may be a new paradigm beyond traditional and new public management, some important theoretical questions are still unanswered. These questions could be clarified by the comparison to economic value in free market. Most public values have been ignored and threatened in free market, but they could be partially measured by some methodology. The issue of public value is emerging at the background of market society and so the moral market should be clarified. A human organ transplantation system has been analyzed to show how the public value could be created in a moral market.