What is Value Theories

The main purpose of this chapter is to outline methodological and contextual issues in empirical researching of personal values. This chapter addresses methodological and contextual issues, most relevant for researching the association between personal values and innovativeness. In the framework of methodological issues, those related to the utilization of different available theories and corresponding typologies of personal values to examine personal values and issues related with field research of individual's values are at the forefront. In the framework of contextual issues, the interpretation and comparison of results from different value studies, changing relative importance of personal values, and examination of personal values in various cultural contexts and specific circumstances, which may have implications on the results are outlined. The central focus of the chapter is on Slovenia as a representative of Central European Economy, having historically been a transitional economy, which moved from a specific centrally planned system to a free market economy.