A concurrent‐chains procedure was used to examine pigeons' preferences between segmented and unsegmented terminal‐link schedules of reinforcement. During the initial link, a pair of independent, concurrent variable‐interval 60‐s schedules was in effect. In the terminal link, reinforcement was provided by a chain fixed‐interval fixed‐interval schedule on one key and by a simple fixed‐interval schedule with an equal interreinforcement interval in the other. The relative duration between the first and second components (segmentation ratio) in the terminal‐link chained schedule was systematically varied while the terminal‐link duration was kept constant at either 15 s or 30 s in two sets of conditions. With few exceptions, the simple schedule was preferred to the chained schedule. Furthermore, this preference was inversely related to the size of the segmentation ratio in the segmented schedule. When the segmentation ratio was smaller than 1:1, preference was more extreme for a 30‐s condition than for a 15‐s condition. However, preference decreased more rapidly in conditions with the longer terminal‐link duration when the ratio increased. Taken together, these results were consistent with previous findings concerning the effect of the terminal‐link duration on choice between segmented and unsegmented schedules. In addition, the data suggested that segmentation ratio in a segmented schedule constitutes another potent factor influencing preference for