Despite its extensive use in emerging Service Science research, value co-creation in complex service systems still remains highly conceptual and ambiguous. Therefore, there exists a need of tools and techniques to model complex service systems making the process of value co-creation operational. Agent-Based Modeling and Simulation has been recognized as a powerful technique in studying complex adaptive systems and hence, becomes a potential approach in studying complex value co-creation interactions and emerging properties of service systems. However, the computational representation of the value co-creation process among agents of a complex service system still remains challenging. This paper proposes a candidate method to address this issue based on Kauffman's NKCS theoretical framework that mimics the co-evolution of multiple species in a biological ecosystem. The key aspects of value co-creation have been discussed using a toy example of two agents. Furthermore the extendibility of the method to model complex service systems has also been discussed.