“Not everything that is measurable is of value, and not everything of value can be measured.”

Dear reader, As chair of Kraket, the study association for econometrics students at VU University Amsterdam, I am regularly faced with decisions centred on one key question: what do we really consider valuable? This question ties in with the theme of this edition of SBE alumni magazine Vuurwerk: value versus values. In this issue, you’ll read about people within and outside the faculty who, each in their own way, are exploring the relationship between measurable value on the one hand, and the values they hold such as social engagement or sustainability. In choosing Econometrics myself, it was the combination of mathematics and economics that really appealed to me. Rather than just working with numbers and formulas, I found it particularly interesting to understand the reasoning behind models: why does a model work the way it does, and how can we apply it in the real world? Nowadays, I’m noticing more and more that that last question is important. As an econometrician, you learn to underpin decisions with data, models and figures. We look for optimal solutions and try to weigh up different forms of value against one another. At the same time, real-world experience shows that not everything that matters can be easily captured in a model. For example, a choice that creates the most value on paper may also have consequences for people, society or the environment. It is in this tension between value and values, interesting dilemmas arise. I see the same balancing act at work within Kraket. One of the things I find most valuable about the society is that we give students the opportunity to shape their own development. There is no single ‘right’ way to spend your time as a student. Some find value in academic challenges and their career, whilst others find it in committee work, friendships or activities. Above all, Kraket strives to provide the space and opportunities for you to make your own choices in this regard. Perhaps that is the very essence of value versus values: not only learning to determine the value of something, but also discovering which values are important to you personally. And it is exactly that combination which makes the choices we make interesting: as econometricians, as professionals and as individuals. I hope these stories will make you think about what you value, which values guide you and how they are reflected in the choices you make. Enjoy reading! On behalf of the 55th Executive Committee of the Kraket Study Association, Merel Meeldijk Chair