“…Traditionally, models have assumed that matching was the slow equilibration of profit by a hill-climbing process in which the investment ratio was adjusted until the profit ratio was 1:1 ( Herrnstein and Vaughan, 1980 ). We have shown, however, that the process of adjustment can be extremely fast; it can go to completion within the span of a single interreinforcement interval at one of the locations ( Gallistel et al ., 2001 ). Moreover, when computed on a visit-byvisit basis, profit is a much noisier variable (because income appears in its denominator, and its numerator, visit duration, is an exponentially distributed random variable).…”