As the volume of academic library value research has continued to increase, the resulting literature has grown complex and sprawling. This article takes stock of this body of work, using a review of the published research literature and an analysis of its organization and structure. This investigation reveals that the research on library value follows a "levels of analysis" framework, with three types of studies--small group, single institution, and multi-institution--comprising the major dimensions. We discuss the strengths and weaknesses of studies at each level and propose a multilevel framework designed to improve the practical utility and scholarly rigor of academic library value assessment.