Abstract: When pigeons acquire a simple simultaneous discrimination, some of the value acquired by the S+ transfers to the S-. The mechanism underlying this transfer of value was examined in three experiments. In Experiment 1, pigeons trained on two simultaneous discriminations (A + B- and C +/- D-) showed a preference for B over D. This preference was reduced, however, following the devaluation of A. In Experiment 2, when after the same original training, value was given to D, the pigeons' preference for C did not significantly increase. In Experiment 3, when both discriminations involved partial reinforcement (S +/-), A + C- training resulted in a preference for B over D, whereas B + D- training resulted in a preference for A over C. Thus, simultaneous discrimination training appears to result in bidirectional within-event conditioning involving the S+ and S-.