Intrinsic/Objective/Subjective Trichotomy:Three opposing views of the nature of values.
The subjective theory of values believes that we make them up, and any value is just as good as any other value. It means there are no actual standards of good or bad, and we just value whatever we feel like.
The intrinsic theory of values believes that the object is valuable in itself. The value somehow is part of the entity itself, and we are able to recognize it and pursue it accordingly
These two views are often upheld as a dichotomy, suggesting either the value is in the object, or the value is in our minds. This is a false dichotomy. It ignores at least one other possibility.
The objective theory of values holds that values are relational between the object and the person who values it. The object is valued for a reason specific to that individual. The reason for the value is what the object can do for the person.
The objective theory of value rejects both the subjective theory and the intrinsic theory. Values are not just something we make up. They are recognized by how they can benefit us. The value does not exist as some kind of built-in trait of the object. It's only because the object can fulfill a purpose for the individual that it is recognized as a value.