This paper investigates the links between the "contributing student pedagogy" and other forms of peer-mediated learning models, e.g. "open-ended group projects" and "communities of practice." We find that a fundamental concern in each of these models is the attribution of "value"; specifically, recognition of the value of learning that is enabled by peer interaction, and the way in which value is created and assessed within a learning community. Value is also central to theories of "intercultural competence." We examine the role that the concept of value plays in the development cycle of intercultural competence and relate it to its function in peer-mediated learning models. We also argue that elements of social learning theory, principally recent work on value creation in communities of practice, are very relevant to the construction and assessment of the type of activities proposed within the contributing student pedagogy. Our theoretical analysis is situated within the context of a globally distributed open-ended group project course unit and our conclusions are illustrated with reference to student practice in this environment. (Contains 1 table and 1 figure.)