Maximizing present value: A model to explain why moderate response rates obtain on variable-interval schedules.
In Phases 1 and 3, two Japanese monkeys responded on a multiple variable-ratio 80 variable-interval X schedule, where the value of X was adjusted to ensure equal between-schedule reinforcement rates. Components strictly alternated following the delivery of a food pellet, and each session ended following 50 components. Phase 2 differed from the others only in that the 50 pellets previously earned during the session were delivered together at session's end. Variable-ratio response rates did not decrease across phases, but variable-interval response rates decreased substantially during the Phase 2 procedure. This rate decrease was attributed to the food-at-session's-end manipulation removing the greater immediacy of reinforcement provided by short interresponse times relative to long interresponse times. Without this time preference for short interresponse times, the variable-interval interresponse-time reinforcement feedback function largely controlled response emission, dictating a response-rate reduction. This result was explained in terms of the economic notion of "maximizing present value."