This article explores the understanding of values in Responsible Research and Innovation (RRI). First, it analyses how two mainstream RRI approaches, the largely substantial one by Von Schomberg and the procedural one by Stilgoe and colleagues, identify and conceptualize values. We argue that by treating values as relatively stable entities, directly available for reflection, both fall into an ‘entity trap’. As a result, the hermeneutic work required to identify values is overlooked. We therefore seek to bolster a practice-based take on values, which approaches values as the evolving results of valuing processes. We highlight how this approach views values as lived realities, interactive and dynamic, discuss methodological implications for RRI, and explore potential limitations. Overall, the strength of this approach is that it enables RRI scholars and practitioners to better acknowledge the complexities involved in valuing.