Values are not based on information from the past and they are not contextual. Values are universal. Values transcend contexts because they are based on what is important to us: They arise from the experience of being human.
Values are intimately related to our needs: Whatever we need—whatever is important to us or what is missing from our lives—is what we value. As our life conditions change, and as we mature and grow in our psychological development, our value priorities change. When we use our values to make decisions we focus on what is important to us—what we need to feel a sense of well-being.