Mate value is a well-known construct in evolutionary psychology. However, due to different operationalizations and an inconsistent relationships of these operationalizations to the concept of fitness, its embedding in evolutionary theory remains unclear. Occasionally, this gives the impression of a certain arbitrariness of explanatory approaches in evolutionary psychology in the form of post hoc explanations that deviate from the formal use of terms borrowed from biology. In this work, however, it is attempted to define the scope of mate value consistently, and explicitly connect it to modern evolutionary theory using formal models from theoretical biology. For this purpose, a structural equation model based on the Multilevel Model of Behavioural Selection is used. As an example, the dynamics of behavioral adaptations and behavioural allocations are clarified in contrast to previous concepts of mate value as a static personality trait.