According to Realism about Epistemic Value, there is such a thing as epistemic value and it is appropriate to evaluate things—e.g., beliefs—for epistemic value because there is such a thing as epistemic value. Allan Hazlett's A Luxury of the Understanding is a sustained critique of Realism. Hazlett challenges proponent of Realism to answer explanatory questions while not justifiably violating certain constraints, including two proposed naturalistic constraints. Hazlett argues they cannot. Here I defend Realism. I argue that it is easy for (...) proponents of Realism to answer Hazlett's explanatory questions. The interesting issue is whether those answers violate Hazlett's naturalistic constraints. My own view is that epistemic value is irreducible to natural properties; it thus violates Hazlett's proposed constraints. I argue that this is justifiable because Hazlett fails to convincingly motivate his naturalistic constraints and there is reason for thinking epistemic value is irreducible to natural properties anyway. (shrink)