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The purpose of this study was to identify cost’s Relationship within Subjective Expectancy-Value framework through hierarchical latent model selection. We collected survey data from 196 undergraduate, biochemistry students on subjective task value and cost through multiple scales. We tested models where cost, as a single or multidimensional construct, was related to value as a subfactor, correlated, or uncorrelated construct. Using a hierarchical latent variable model approach, we found cost was selected as a related but separate construct to value. Implications for expectancy-value theory are discussed.