Rats responded on concurrent variable interval schedules of brain stim
ulation reward in 2-trial sessions. Between trials, there was a 16-fol
d reversal in the relative rate of reward. In successive, narrow time
windows, the authors compared the ratio of the times spent on the 2 le
vers to the ratio of the rewards received. Time-allocation ratios trac
ked wide, random fluctuations in the reward ratio. The adjustment to t
he midsession reversal in relative rate of reward was largely complete
d within 1 interreward interval on the leaner schedule. Both results w
ere unaffected by a 16-fold change in the combined rates of reward. Th
e large, rapid, scale-invariant shifts in time-allocation ratios that
underlie matching behavior imply that the subjective relative rate of
reward can be determined by a very few of the most recent interreward
intervals and that this estimate can directly determine the ratio of t
he expected stay durations.