Abstract: When animals learn a simultaneous discrimination, some of the value of the positive stimulus (S+) appears to transfer to the negative stimulus (S-). The present experiments demonstrate that such value transfer can also be found in humans. In Experiment 1 humans were trained on 2 simple simultaneous discriminations, the first between a highly positive stimulus, A (1,000 points); and a negative stimulus, B (0 points); and the second between a less positive stimulus, C (100 points); and a negative stimulus, D (0 points). On test trials, most participants preferred B over D. In Experiments 2 and 3 the value of the 2 original discriminations was equated in training (A[100]B[0] and C[100]D[0]). In Experiment 2 the values of the positive stimuli were then altered (A[1,000]C[0]); again, most participants preferred B over D. In Experiment 3, however, when the values of B and D were altered (B[1,000]D[0]), participants were indifferent to A and C. Thus, the mechanism that underlies value transfer in humans appears to be related to Pavlovian second-order conditioning. Similar mechanisms may be involved in assimilation processes in social contexts.