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To address this challenge, we propose a formal computational framework for representing human values that provides the foundational structures required for value-aware reasoning in multi-agent systems. To our knowledge, this has not been attempted as yet, which is surprising given the growing volume of research integrating human values into AI systems. Taking as our starting point the wealth of research in human values from the field of social psychology, we set out to provide a formal model which captures value relations, value importance, and computational semantics in order to support the evaluation of behaviour with respect to values and the development of value-aware decision-making mechanisms in agent-based systems. 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