Co-created value: Multidimensional scale and nomological network

Although, increasing interest is given to value co-creation in service industries, including tourism and hospitality, there is a lack of a valid and reliable instrument that measures value from the co-created perspective. Study addresses a research gap by developing conceptually grounded and psychometrically sound scale of co-created value. Derived from service-dominant logic and theory of value, co-created value is conceptualized as a personal appraisal of the meaningfulness of a service based on what is contributed and what is realized through collaboration. The scale development and validation followed multi-step multi-stage methodology and verified the measure in different tourism and hospitality contexts. The analyses resulted in 25-item 5-dimension original scale representing: meaningfulness, contribution, collaboration, recognition and emotional response. The co-created value scale was tested for concurrent validity using consumer loyalty as a part of the nomological network, with antecedents operationalized as openness and authenticity and consequences as well-being, competitive advantage, commitment, and trust. (C) 2017 Elsevier Ltd. All rights reserved.