Abstract
Social entrepreneurship has been frequently present as a source of social value creation as opposed to economic entrepreneurship which would be a source of economic value. However the idea of value commoly used in organizational research comes from neo-classic economy and is equivalent to marginal utiliy. We argue here that this paradigm of value do not encompass the idea of non economic value created by social ventures. We undertake a historical review of the concept of value on economy and organizational research and we propose a new model of conceiving non ecomic value based on the neo-institutional scholl of economy.