Pigeons chose between two schedules of food presentation, a fixed‐interval schedule and a progressive‐interval schedule that began at 0 s and increased by 20 s with each food delivery provided by that schedule. Choosing one schedule disabled the alternate schedule and stimuli until the requirements of the chosen schedule were satisfied, at which point both schedules were again made available. Fixed‐interval duration remained constant within individual sessions but varied across conditions. Under reset conditions, completing the fixed‐interval schedule not only produced food but also reset the progressive interval to its minimum. Blocks of sessions under the reset procedure were interspersed with sessions under a no‐reset procedure, in which the progressive schedule value increased independent of fixed‐interval choices. Median points of switching from the progressive to the fixed schedule varied systematically with fixed‐interval value, and were consistently lower during reset than during no‐reset conditions. Under the latter, each subject's choices of the progressive‐interval schedule persisted beyond the point at which its requirements equaled those of the fixed‐interval schedule at all but the highest fixed‐interval value. Under the reset procedure, switching occurred at or prior to that equality point. These results qualitatively confirm molar analyses of schedule preference and some versions of optimality theory, but they are more adequately characterized by a model of schedule preference based on the cumulated values of multiple reinforcers, weighted in inverse proportion to the delay between the choice and each