Value, particularly present value, can be defined as what an asset is worth today based on what it earns in the holding period, discounted to the current period. This differs from the market price; which is what the asset trades at given and demand. Nonetheless, the value of an asset, by establishing what the asset is worth, sets the price that a buyer would be willing to pay. If an asset has $10 of value, a buyer would not be willing to pay than $10. Likewise a seller would have to receive a price of at least for an asset that is worth $10. Thus, value sets a maximum implied price for a buyer and a minimum implied price for a seller. Value can be thought of helping to establish a price. This is the reason why some financial literature seems to state that value = price. Technically, value = implied price. past future || present supply price demand minimum maximum best less more equal $8 $9 | $10 maximum minimum break-even