This essay provides an overview of the contemporary academic discourse and challenges regarding the role of values and valuations in service. Situating service within the larger socio-economic networks brings to the fore the plurality of values and the recognition that value creation is (both) a social and market activity. This raises important questions regarding the role of symbols, the nature of outcomes and the processes of valuing as they come together in markets, in organizations and in other social domains. The essay then prioritizes a number of interdisciplinary research opportunities that relate market exchange to social exchange, emphasize the collaborative nature of value creation among particular agents, and examine the impacts of such value co-creation across specific market, social and environmental domains.