I have been invited to write a book chapter in an edited volume, relating to my field of work. I have a paper ready that I have not published and was planning to submit it soon. So, I am wondering is it worth to use that article for the book chapter, as both are on the same topic, or is it in a sense a waste of a journal paper, as book chapters might not be seen to have the same academic value? What should I do? Should I, instead, send the ready paper to a journal for a review and write a book chapter, based on a couple papers I have published, for instance?
Generally speaking, where does a book chapter stand? Is it something between a conference paper and a full-fledged journal article? Or, does does it have the same value as either of the above-mentioned publication types, in your opinion?