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PIARC (World Road Association), founded in 1909 and comprising 125 member governments from all over the world, is the global forum for exchange of knowledge and experience on roads, road transport policies and practices. With consultative status to the Economic and Social Council of the United Nations, the Association is contributing to a stable and sustainable global development of the road and transport sector.

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Term of the Road Dictionary

social value

  • Language : PIARC Road Dictionary / English
  • Theme : Financial and Legal Tools Finance and Procurement Economics and Finance
  • Definition : Value that replaces individual value by aggregating the satisfaction and dissatisfaction felt by all people, and adjusting by the correction factors that the decision-making authority applies to individual values so as to express its own system of values.
  • Synonyms : collective value

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