The things or ideas we "like" or enjoy and which carry happiness within them, and vary in amount of positive versus negative emotional valence. They are similar to "beliefs" in that they contain a valence of positive or negative emotion, only in the case of a value they are not about a set of ideas, but a singular item, object, possession, concept, idea or person.

For example, part of the definition of friendship is that we place positive emotional value on each of our friends. If we don't value them at all or they don't value us then there is no friendship. 

Another example is the concept of "bargains" versus "ripoffs" in items, things, people or investments we make. One of these is a "bargain" if it grants us more positive emotion (happiness) than the price we paid to invest and is a "ripoff" if it grants us less positive emotion (happiness) than the cost we invested.