The author develops building blocks for a non-normative public value theory. After a short overview of the rise of public value and challenges in defining public value, the constructs “value,” “public,” “public value,” and “public value creation” are systematically introduced by drawing on a range of philosophical, psychological, and economic concepts. Psychological accounts are identified as the key to understand public value creation. Derived from needs theory, four basic public value dimensions are proposed and related to a public value landscape. Consequences of this re-conceptualization of public value are discussed with special emphasis of the public sector.