Valuation theory: A constructive view

The theory of valuations on fields is developed in the constructive spirit of Errett Bishop. As a consequence of the general theory we are able to construct all nonarchimedean valuations on algebraic number fields and compute their ramification indices and residue class degrees. The notion of a field with a valuation for which the infimum of the values of any polynomial function can be computed plays an important role. Numerous limiting counterexamples are provided.